Summary
- The Massachusetts regulatory authorities have announced the initiation of an investigation into Robinhood's prediction market service.
- Secretary Galvin expressed the view that the service diverts investors from sound investments.
- Robinhood's response to the subpoena is scheduled for April 3.
It has been reported that the regulatory authorities in Massachusetts, USA, have begun an investigation into Robinhood's prediction market hub.
On the 24th (local time), CoinDesk, a cryptocurrency-focused media outlet, cited a Reuters report stating that Bill Galvin, the Secretary of the Commonwealth of Massachusetts, issued a subpoena to Robinhood last week, demanding document submissions.
Galvin's office reportedly stated that "the service is merely a ploy by the company to divert investors from sound investments."
Robinhood's response to the subpoena is scheduled for April 3.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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