The ironic thing about Robinhood’s foray into sports betting is that retail investors have long been stigmatized as inexperienced novices simply gambling away their money, trading on vibes rather than fundamental conviction. Robinhood was not doing them any justice by inserting an actual gambling product into its app.

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.