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Robinhood users can now place de facto bets on the Super Bowl via sports event contracts.
State of play: The retail trading app said today that it will allow users to purchase these contracts in all 50 states via Kalshi, a derivatives exchange that's regulated by the Commodity Futures Trading Commission.
Kalshi started offering sports events two weeks ago, Axios' Brady Dale and Sami Sparber reported last week.
Friction point: The commodities regulator is currently reviewing the contracts concerning whether they comply with derivatives regulations, Bloomberg reported today.
The CFTC is questioning both Kalshi and Crypto.com, which had launched its own sports-related event contracts on Dec. 23, per the report.
🏈 Nathan's thought bubble: Robinhood users are limited to contracts on the winner of the pro football championship, so it doesn't currently pose a significant threat to the major sportsbooks — but that could change if and when more options become available.
