The arm of the trading platform Robinhood’s platform has filed with regulators in Nevada and New Jersey in a bid to lead the potential action of implementing from states to its sports event contracts.
In a couple of complaints on Tuesday against Nevada and the New Jersey gaming regulators and their lawyer generals, Robinhood Derivatives said it began to offer event contracts with states after federal courts earlier this year allowed market prophecy Si Bulashi to offer contracts.
Robinhood claimed in separate cases that after decisions, Nevada and New Jersey were constantly trying to prevent the company from offering contracts even though the courts stopped them from doing so against Mashi with respect to both transactions. “
MILLI Sued nevada and new jersey Gaming regulators in March, claiming letters that stopped stopping from states offering sports estimates in sports were mocked as it was regulated by the Commodity Futures Trading Commission.
Federal courts in the same state cooperated with Bashi and prevented regulators from taking action against the company. Both suits are still ongoing.
Robinhood’s claim is harmful if not allowed to offer contracts
Robinhood has announced that if State regulators are allowed to take action against it but not doircly, it will disappear on the platform in the space of sports event contracts.
Event contracts Let users bet on the outcome of events such as sporting games or election results, and have their roots using blockchains for transparency and dealing with the reality of the contract.
Robinhood said its platform facilitates the placement and extermination of event contracts for its users, who trade in Malashi.
It said that “every state’s refusal to recognize what the court holds is – that its threat to state law enforcement is likely to be preempted by federal law – Robinhood has no choice but to file this lawsuit to protect its customers and businesses.”
Regulators have denied Robinhood’s arguments
Robinhood claimed in its demands that gaming regulators from the same state have denied considerations that they should be allowed to offer event contracts after the courts cooperating with Bashi.
It said in his New Jersey suit that it contacted the state’s gaming implementation division to explain that it should be allowed to offer contracts by the Malawi in the decision of the federal court that allowed Kashi to offer them.
“Division officials informed Robinhood that they could not agree to refrain from the action of implementation even though this court’s order was in the area of Malashi,” the company said. It has accused regulation officials for not responding to a request to address the issue despite “many follow-ups.”
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Robinhood said a similar scenario played in Nevada after a local federal court that contacted Mashi, with its complaint saying that the state’s gaming control board was told the company that if it offered contracts, it would be viewed as “intentionally breaking” law
Robinhood said the regulator has denied its proposal to temporarily offer state -based customers of the same contracts offered in Malashi.
In both complaints, Robinhood asked the courts to issue a command to stop the regulators from taking action against it and filed for a temporary restraint of opposition -following each other.
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