Did you lose money on Robinhood sports-related event contracts?
Stop Blaming Yourself.
Start Blaming Robinhood.
Regulators in 8 states have flagged these event contracts as having gambling characteristics—risks Robinhood didn't warn you about. Whether you lost $50 or $50,000, if you traded and want your money back, you belong on this list.
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The Evidence Is Clear
This isn't just one person complaining. Regulators across the country agree.
Regulators — including Nevada, New Jersey, Ohio, and Maryland — have flagged these products as having gambling characteristics
FINRA fine against Robinhood (2021) for giving customers false information about risk
Robinhood's own customer agreement routes these disputes to FINRA arbitration — the same process customers can use to seek their money back
Kalshi's lawyers admitted sports contracts are "gaming" in federal court — then launched them anyway
"Contracts on sporting events such as the Super Bowl, the Kentucky Derby, and Masters Golf Tournament were precisely what Congress had in mind as 'gaming' contracts."
— Kalshi's lawyers in federal court, January 2024
Six days after this oral argument, Kalshi launched sports betting contracts on those exact events.
Regulators Flagged the Risk—Robinhood Didn't
Regulators in 8 states have flagged event contracts as having gambling characteristics
Nevada
Nevada Gaming Control Board
New Jersey
NJ Division of Gaming Enforcement
Ohio
Ohio Casino Control Commission
Maryland
Maryland Lottery and Gaming
Pennsylvania
PA Gaming Control Board
Michigan
Michigan Gaming Control Board
Indiana
Indiana Gaming Commission
Illinois
Illinois Gaming Board
What does this mean?
Regulators in these 8 states have flagged event contracts as having gambling characteristics that carry significant risk. This supports the argument that Robinhood failed to adequately warn users about the true nature of these products, leading many people to lose money on what they believed were safer investments.
You Can Fight Back. And Win.
The arbitration clause they built to protect themselves became a weapon against them.
of FINRA mediations result in settlement — that's not a lottery, that's a real chance
of cases settle before the hearing even happens
require the company to pay YOUR attorney fees if you win even $1
Amazon customers filed arbitration claims — Amazon completely reversed course
When thousands of ordinary people file similar claims, billion-dollar companies settle. Uber paid $146 million. Intuit paid $141 million. The math works in your favor.
What Happened?
Robinhood Markets, Inc. launched an event contract trading platform that allowed users to bet on the outcomes of specific events. These contracts were marketed as investment opportunities, but functioned more like gambling instruments.
Key Issues Reported by Users:
- Misleading Marketing: Event contracts were presented as investing opportunities when they functioned more like gambling
- Restricted Trading: Users reported being unable to trade or exit positions during critical periods
- Technical Issues: Platform malfunctions prevented users from managing their positions effectively
- Regulatory Concerns: Potential violations of state gambling laws and consumer protection regulations
Who Should Add Their Name?
If you experienced any of the following, we encourage you to add your information to our registry:
We accept submissions from all 50 states and Washington D.C.
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Timeline Notice: This is a registry and information collection service. The process of attorney review typically takes 6-12 months. Adding your name does not guarantee legal representation.
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Answer a few quick questions. Eligible submissions are reviewed by qualified attorneys who may be able to help.
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