Reported about 11 hours ago
Robinhood and FanDuel are merging sports betting and stock trading with innovative event contracts, allowing users to make binary predictions on outcomes like sports games and commodity prices. While Robinhood launched event contracts for college and professional football, FanDuel is incorporating them into financial products such as stocks and cryptocurrencies. These contracts exist in a legal gray area, prompting concerns from sports leagues and regulatory bodies about their classification and implications for market integrity, with ongoing legal disputes highlighting the complexity of jurisdiction and regulation.
Source: YAHOO