Did you lose money on Robinhood sports-related event contracts?
Stop Blaming Yourself.
Start Blaming Robinhood.
8 state gaming commissions identified high-risk gambling characteristics in these products—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.
Gaming commissions determined these products are gambling — including Nevada, New Jersey, Ohio, and Maryland
FINRA fine against Robinhood (2021) for giving customers false information about risk
Of FINRA mediations result in settlement — per FINRA's 2024 official statistics
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
8 state gaming commissions identified gambling characteristics in event contracts
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?
These state gaming commissions independently found that event contracts have 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.
People Just Like You Are Fighting Back
Thousands of people lost money on event contracts. Here are some of their stories.
“I thought I was making smart investments, but these event contracts were nothing like what I expected. The platform made it seem like regular trading, but I lost everything in a matter of days. I wish someone had warned me.”
John D., Texas
Lost $15,000 on event contracts
“When the market got volatile, I tried to exit my positions but the platform wouldn't let me trade. I watched helplessly as my account balance dropped. This wasn't fair trading - the deck was stacked against us.”
Sarah M., California
Lost $8,500 on event contracts
“They called it "investing" but it was gambling. No one explained the true risks or that 8 states had already deemed these products illegal gambling. I deserved to know what I was getting into.”
Michael R., Florida
Lost $22,000 on event contracts
Names and identifying details have been changed to protect privacy. Individual results may vary.
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.
Timeline Notice
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.
Ready to Add Your Name?
It only takes a few minutes. Your information will be reviewed by qualified attorneys who may be able to help.
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Important: Preserve all records related to your Robinhood event contract trading, including account statements, screenshots, emails, and transaction confirmations. Do not delete any documentation.
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