Are sports prediction markets betting or investing? Two new Robinhood lawsuits could define how they are regulated going forward 

Not everyone agreed. After expanding its burgeoning sports business through a partnership with Robinhood, the two platforms received cease-and-desist letters from the New Jersey and Nevada governments, who weren’t amused by the semantic argument. But last week, Robinhood fought back, suing both states to argue that users should have access to its sports contracts. 

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