Wisconsin Moves to Ban Robinhood Sports Prediction Contracts
Wisconsin Department of Justice filed suit in Dane County alleging Robinhood’s sports-related event contracts violate state ban on unlawful gambling and seeks injunctions to halt in-state offerings. B.C. Supreme Court extended WonderFi’s AGM deadline from August 24, 2025 to July 2, 2026 to allow completion of Robinhood’s planned acquisition in first-half 2026.
1. Wisconsin Lawsuit Targets Robinhood Prediction Markets
The Wisconsin Department of Justice filed a complaint in Dane County Court against Robinhood along with Kalshi, Coinbase, Polymarket and Crypto.com, alleging their sports-related event contracts qualify as illegal gambling under Wis. Stat. § 945.03(1m). The state is seeking both preliminary and permanent injunctions to block these platforms from offering or settling sports prediction contracts to in-state users, framing the activity as a public nuisance.
2. AGM Extension Clears Path for Canada Deal
The Supreme Court of British Columbia issued oral reasons granting an extension of WonderFi’s annual general meeting deadline from August 24, 2025 to July 2, 2026 under s. 186 of the BCBCA. This extension provides additional time to satisfy remaining conditions and finalize Robinhood’s acquisition of all common shares of WonderFi, expected to close in the first half of 2026, while post-closing integration work continues.