Robinhood cancels Super Bowl betting market after regulatory request

Robinhood has canceled its plans to offer event contracts for betting on the Super Bowl. The Commodity Futures Trading Commission requested that Robinhood not allow customers to access these contracts. The decision comes after Robinhood had just launched its "Pro Football Championship Market," allowing users to bet on the game's outcome. The product was available to about 1% of customers. Customers who purchased contracts can either close their positions or let them resolve. Previously, Robinhood offered similar contracts for the U.S. presidential election.