Robinhood reversed course just a day after introducing events contracts that would have allowed investors to trade based on the outcome of the Super Bowl.

Robinhood said on Tuesday it had suspended trading in Super Bowl betting contracts after the brokerage received a request from the U.S. Commodity Futures Trading Commission. "We are heeding their directive to cease offering these contracts despite the fact that the CFTC has not deemed Kalshi's football championship contracts illegal,

The CFTC asked the brokerage to stop offering customer access to contracts, warning that they might be illegal blurring of financial markets and gambling.

The halt comes just a day after Robinhood launched the product. Robinhood said on Tuesday it is rolling back the event contracts that would let users bet on the result of the Super Bowl clash this weekend, after the online brokerage received a request from the U.S. Commodity Futures Trading Commission.

Robinhood said on Tuesday it had received a formal request from the U.S. Commodity Futures Trading Commission to roll back its Super Bowl betting contracts product. The trading platform had launched the event contracts on Monday to let U.

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Robinhood Markets Inc. said it received a formal request from the Commodity Futures Trading Commission to suspend its offerings for traders to place bets on the outcomes of the Feb. 9 Super Bowl game.