Robinhood’s Earnings Week Now Has a Prediction-Market Problem
Robinhood Markets Inc. is staring down a new lawsuit from Wisconsin, just as it prepares to release first-quarter earnings. The state has targeted Robinhood and a group of rivals over contracts tied to sports events—a type of contract that allows traders to bet on real-world outcomes. The legal action drops a cloud of regulatory uncertainty over Robinhood right before its results hit.
