The Massachusetts’ top securities regulator has launched a recent investigation into Robin Hood’s decision to launch an appointment of an app predictor of the popular trading platform, which allows users to bet on the results of events, including marching madness matchups.
According to Reuters’ Monday report, Massachusetts Secretary of State Bill Galon – an infamous aggressive regulator – sent Robin Hood a subtish to find out about the number of users of Robin Hood in Massachusetts last week, requesting college sports markets to trade and compromised.
Galon told Reuters, “This is another trick by a company that is good for attracting investors away from investing in tricks.” The Galon office confirmed the investigation to the Quandsesk, and added that Ruben Hood’s sub -suburbs are about to come up on April 3.
Robin Hood’s prediction market, which is powered by the Commodity Future Trading Commission (CFTC)-Regulated Klie, launched March 17 with a march-related event-related agreement, as well as the upper limit of the target feed funds in May. At the time of the launch, Robin Hood told Kondesk that he had been in touch with the CFTC in recent weeks, which has reached the launch.
A spokesman for Robin Hood reiterated that the event contracts presented by the center of its predictions were “regularly made by CFTC and was presented by CFTC registered agencies.”
The spokesperson added, “Petition markets have become rapidly related to the same retail and institutional investors, and we are proud that these products are one of the first platforms to preserve safe and regular retail users.”
Earlier, the trading platform tried to launch its forecast markets in February before the Super Bowl, but delayed the launch at the request of the CFTC.
