Robinhood Loses Massachusetts Sports Betting Challenge Again (1)

Robinhood suffered a repeat loss Friday in its quest to preemptively block Massachusetts’ attorney general from going after its sports prediction market offerings after its partner stopped facilitating the event wagers.

In a brief docket entry, US District Judge Richard G. Stearns dismissed the financial services company’s federal lawsuit seeking an injunction against any enforcement of Massachusetts sports betting laws, citing as rationale the same reasoning he gave when he first tossed the case in November.

Stearns initially spiked the lawsuit because Robinhood’s prediction market future had been solely based on its work with Kalshi, whose sports event prediction contracts ...