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Robinhood to halt sports-related event contracts in Michigan amid ongoing litigation9 September 2026(PRESS RELEASE) -- The Michigan Gaming Control Board announced that Robinhood Derivatives, LLC has agreed to stop offering new sports-related event contracts to Michigan customers by the end of the day Wednesday, and to close out any remaining customer positions by 9 October, under a court-approved agreement. The agreement marks another step forward in Michigan’s ongoing effort to ensure that sports wagering products are offered only through operators licensed and regulated under state law. It follows a preliminary injunction the Michigan Attorney General secured earlier this month against KalshiEX, barring that platform from offering, listing, or facilitating sports-related event contracts for anyone located in Michigan. “This agreement is another win for Michigan consumers,” said MGCB Executive Director Henry Williams. “Sports wagering products should only be offered by operators who are licensed, regulated, and held accountable under Michigan law. We’re pleased Robinhood has agreed to step back from offering these unregulated products while the courts continue to sort out the broader legal questions, and we’ll keep working with the Attorney General’s office to make sure Michigan consumers are protected.” This agreement makes Robinhood the second sports-contract platform to withdraw its offerings from Michigan this year, following Kalshi, while the two companies’ federal court challenges continue. The agreement does not concede any party’s legal position — it preserves both sides’ rights and defenses, including Robinhood’s argument that its federally structured contracts are not subject to state regulation. The agreement will remain in effect until the Sixth Circuit appeals are resolved. “Throughout this litigation, our priority has been protecting Michigan consumers from exploitative practices and ensuring betting in our state remains fair and regulated,” said Michigan Attorney General Dana Nessel. “I am proud of the dedicated attorneys in my office for securing an agreement that protects Michiganders while our case moves forward.” The MGCB remains committed to working with the Michigan Department of Attorney General to protect Michigan consumers and to ensure that sports wagering in the state is conducted only through properly licensed and regulated operators. |