Robinhood said on Tuesday it had suspended trading in Super Bowl betting contracts after the brokerage received a request from the U.S. Commodity Futures Trading Commission. "We are heeding their directive to cease offering these contracts despite the fact that the CFTC has not deemed Kalshi's football championship contracts illegal,

The CFTC asked the brokerage to stop offering customer access to contracts, warning that they might be illegal blurring of financial markets and gambling.

On Monday, Robinhood said it would launch event contracts for Super Bowl LIX, allowing customers to place trades on who will win the big game: the Kansas City Chiefs or the Philadelphia Eagles. The event contracts began trading on Monday. Robinhood said it would now suspend the rollout of the events contracts.