Kalshi has garnered attention in the past for its event contracts tied to bets on the US presidential election. A spokesperson for the CFTC declined to comment on Galvin's probe into Robinhood. This isn't Galvin's first investigation into Robinhood. In January 2024, the company paid $7.5 million to settle complaints brought in 2020 and 2021 by Galvin over its practices, including strategies to encourage users to trade. Robinhood's launch of the prediction markets hub comes one month after the company ditched plans to allow users to bet on the outcome of the Super Bowl, scrapping the product at the request of the CFTC. "That review of the company's risk management procedures and controls applicable to sports-related event contracts has completed, and at this time, the CFTC has no legal justification to prevent Robinhood from offering access to these contracts, which are listed on a CFTC-registered exchange," a spokesperson for the CFTC said in a statement on Monday.