Herman Jones LLP Has Filed a Class Action Lawsuit on behalf of Persons Who Have Been Harmed by Robinhood’s Investment Platform Prediction Markets Feature

On June 10, 2026, Herman Jones LLP (www.hermanjones.com) filed a class action lawsuit in the United States District Court for the Northern District of California, styled Matthew Mazza v. Robinhood Markets, Inc. and Robinhood Derivatives, LLC, Case No. 3:26-cv-5610 (the “Lawsuit”), on behalf of customers of the Robinhood investment platform affected by the platform’s prediction markets feature, which allows customers to enter into sporting event contracts.  The Lawsuit alleges that Robinhood’s sale of event contracts is simply illegal gambling by another name and violates state laws.  Through the Robinhood platform, the investment savings that customers hold with Robinhood are used to buy or collateralize “event contracts,” and place bets on sporting events.  The Lawsuit further contends that while Robinhood’s customers are led to believe that sports event contracts are a modern, sophisticated investment tool, these contracts simply are a means to engage in illegal betting.  The Lawsuit maintains that, by operating an unlicensed sports gambling operation, Robinhood has violated state gambling laws and regulations, engaged in deceptive conduct, and unjustly enriched itself at the expense of millions of consumers and their financial investments.

IF YOU BELIEVE YOU HAVE BEEN HARMED BY ROBINHOOD’S ACTIONS AS ALLEGED IN THE LAWSUIT, you may have standing to hold Robinhood responsible for the company’s possible bad acts.  You may also be able to assist in reforming the company’s practices to prevent future wrongdoing.

IF YOU ARE INTERESTED IN LEARNING MORE ABOUT THE LAWSUIT, PLEASE CONTACT US AT THE INFORMATION BELOW.  IF EMAILING, PLEASE INCLUDE A PHONE NUMBER.

ABOUT HERMAN JONES LLP:

Herman Jones LLP (www.hermanjones.com) is a nationally recognized high-stakes litigation law firm with offices in Atlanta, Newark and Seattle.  Herman Jones LLP represents individual and institutional investors in shareholder derivative and securities class action lawsuits, in addition to antitrust, intellectual property, consumer class actions and venture fund transactional work.  Herman Jones LLP regularly assists clients in recovering losses resulting from violations of federal securities laws.  For more information about the firm and its attorneys, please visit https://www.hermanjones.com.  Attorney advertising.  Past results do not guarantee future outcomes.

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