The Autorite nationale des jeux (ANJ), France’s gambling regulator, is investigating Robinhood, the main sponsor of French football club OGC Nice. The regulator believes the American broker’s predictive markets activity may not be authorized in France and could be classified as illegal gambling websites. Robinhood claims its predictive markets are not marketed in France and that its partnership with OGC Nice solely aims to promote its crypto services, where it is legally authorized to operate. This investigation comes as Robinhood reached a record of $875 million in daily DEX volume last August. The company has also struck a deal with Crypto.com to integrate predictive markets contracts via its subsidiary OG.com, amid increasing regulatory scrutiny across Europe regarding the speculative nature of such platforms.
Source: Read the original article
