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Robinhood shares rise despite Connecticut cease-and-desist order – TON BOT

Robinhood shares rise despite Connecticut cease-and-desist order

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Robinhood stock rose despite a cease-and-desist order from Connecticut regulators related to prediction market operations. The state ordered Robinhood to halt contracts and allow residents to withdraw funds. Other platforms like KalshiEX and Crypto.com were also cited for offering contracts without proper licensing. Legal battles are ongoing in multiple states over online prediction markets. Robinhood emphasized it is a financial technology company, not a bank, and customer deposits are held through a partner bank with FDIC coverage.

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