Sports Betting Halted by New Jersey

New Jersey Orders Robinhood and Kalshi to Cease Sports Betting

• The New Jersey Division of Gaming Enforcement issued a cease-and-desist order to Robinhood and Kalshi.
• The order demands the halt of sports prediction markets offered to New Jersey residents.
• Robinhood partnered with Kalshi for March Madness prediction markets earlier this month.
• Both companies must comply by March 28 or face enforcement actions.
• The regulator claims the platforms violated New Jersey’s Sports Wagering Act, which requires licensing.

Robinhood and Kalshi have been ordered by New Jersey regulators to stop offering sports betting services, as their actions allegedly violate state laws. Both companies must comply with the order by March 28.