Robinhood says Washington’s lawsuit against Kalshi put its own event-contract business at risk.
OLYMPIA, Wash. — Robinhood has sued Washington state in federal court, arguing the state cannot use its gambling laws to shut down the company’s event-contract business after Attorney General Nick Brown sued Kalshi over similar offerings, according to the complaint.
In the federal lawsuit filed March 30, Robinhood says Washington’s recent actions created an immediate threat that the state will also go after Robinhood because it offers event contracts tied to sports, politics, entertainment, weather and other topics through federally regulated exchanges, including Kalshi and ForecastEx.
The company is asking a
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