Robinhood Markets has suspended its Super Bowl betting product just one day after its launch due to a request from the Commodities and Futures Trading Commission (CFTC). The betting service, which was introduced in partnership with prediction market Kalshi, allowed users to wager on the outcome of the upcoming Super Bowl between the Philadelphia Eagles and Kansas City Chiefs. Following its launch on February 4, Robinhood had rolled out the product to approximately 1% of its customer base, many of whom had already started placing bets. Robinhood expressed disappointment over the suspension, particularly since they had been in regular contact with the CFTC regarding their plans. This action follows the CFTC's ongoing investigations into Crypto.com and Kalshi related to their offerings of event contracts for the Super Bowl. Event contracts differ from traditional bets as they utilize odds generated from users rather than a bookmaker.

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