Supreme Court Extends WonderFi AGM, Wisconsin Sues Robinhood Over Contracts
British Columbia’s Supreme Court extended WonderFi’s AGM to July 2, 2026, delaying Robinhood’s planned first-half 2026 acquisition until regulatory and integration conditions are met. Wisconsin sued Robinhood and four prediction-market firms for illegal sports event contracts, seeking injunctions that could limit its U.S. derivatives offerings.
1. AGM Deadline Extended
The Supreme Court of British Columbia issued oral reasons granting WonderFi extension of its annual general meeting deadline under s.186 of the Business Corporations Act, moving the date from August 24, 2025, to July 2, 2026. This extension delays a key procedural milestone for the plan of arrangement under which Robinhood will indirectly acquire all WonderFi shares, now expected to close in the first half of 2026 pending satisfaction or waiver of remaining conditions.
2. Wisconsin Seeks Injunction on Sports Contracts
The Wisconsin Department of Justice filed lawsuits in Dane County against Robinhood and four other prediction-market operators, alleging their sports-related event contracts violate the state’s ban on unlawful commercial gambling (Wis. Stat. § 945.03(1m)). The state seeks both preliminary and permanent injunctions to block these offerings to Wisconsin residents, which could curb Robinhood’s sports-related derivatives services within the state.