Robinhood Under Investigation by ANJ for Its Activities in France

The National Gaming Authority (ANJ) is examining Robinhood's case, the sponsor of OGC Nice, due to concerns regarding its predictive market platforms, which could be considered illegal in France. The ANJ has stated that it is currently investigating the matter, having already issued a warning about the risks associated with these platforms in February. Robinhood defends its services, claiming that its predictive markets are not marketed in France and that its partnership with OGC Nice aims to promote its legally authorized crypto-asset services. Recently, Robinhood has intensified its activities in the crypto sector, launching its own blockchain, the Robinhood Chain, which recorded a daily volume of $875 million at the end of August. Meanwhile, Robinhood announced an agreement with Crypto.com to integrate predictive market contracts through its subsidiary OG.com. Crypto.com and OG have been valued at $15 billion and $5 billion respectively, while Robinhood has a market capitalization of approximately $110 billion. This situation occurs in a context where Premier League clubs can no longer display sports betting sponsors on their jerseys, raising questions about the speculative nature of predictive markets.

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