Robinhood’s challenge to Massachusetts’s ability to shut down event prediction betting on sports was reopened after it launched a partnership with prediction contract market ForecastEX.
The reversal on Thursday follows a Boston federal judge’s dismissal of Robinhood’s lawsuit in November because Massachusetts Attorney General Andrea Campbell (D) was already fighting KalshiEx—Robinhood’s then only prediction market partner—in state court over its sports contracts.
In that decision, Judge Richard G. Stearns said Robinhood wasn’t at risk of being targeted because of its relationship with Kalshi because the state had promised to hold off on any action until the state court rules on ...