Judge Skeptical of Robinhood in Massachusetts Sports Betting Row

Robinhood appears unlikely to convince a federal judge to block Massachusetts from taking enforcement action against it for offering sports-related event contracts that the state has said evade state sports betting laws.

The investing platform’s lawsuit claimed it could be next on Massachusetts Attorney General Andrea Joy Campbell’s (D) enforcement list after her office sued its partner events contract market Kalshi for offering illegal sports bets under the guise of derivatives contracts.

But Judge Richard G. Stearns seemed unlikely to step into the fray and grant Robinhood an “advisory opinion” on the issue.

“I don’t understand what the concrete case ...