Order Granting Parties' 16 Stipulated Motion Concerning Enforcement Actions. This Action Shall Be Administratively Stayed Pending Order of This Court Following the Ninth Circuit Decision and the Occurrence of the First of the Herein Det Ailed Conditions. Within Ten Days of the Ninth Circuit Decision and the Occurrence of the First of the Conditions, the Parties Shall Meet and Confer Regarding Whether Agreement May Be Reached About the Status of This Action. Absent Agreement to a Dif Ferent Course of Action Following the Parties' Conference, Within Twenty Days of the Ninth Circuit Decision and the Occurrence of the First of the Conditions, the Parties Shall Submit a Status Report to the Court. Signed by U.S. District Judge John C. Coughenour

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Davis Wright Tremaine LLP LAW OFFICES 920 Fifth Avenue, Suite 3300 Seattle, WA 98104-1610 206.622.3150 main · 206.757.7700 fax The Honorable John C. Coughenour UNITED STATES DISTRICT COURT WESTERN DISTRICT OF WASHINGTON AT TACOMA ROBINHOOD DERIVATIVES, LLC, Plaintiff,

v. TINA GRIFFIN, in her official capacity as Executive Director of the Washington State Gambling Commission; ALICIA LEVY, in her official capacity as Chair of the Washington State Gambling Commission; SARAH LAWSON, in her official capacity as Vice Chair of the Washington State Gambling Commission; NOAH SKARTVEDT, in his official capacity as Commissioner of the Washington State Gambling Commission; MICHAEL CHARLES, in his official capacity as Commissioner of the Washington State Gambling Commission; and NICHOLAS W. BROWN, in his official capacity as Attorney General for the State of Washington,

Plaintiff Robinhood Derivatives, LLC (“Robinhood”) and Defendants Tina Griffin, Alicia Levy, Sarah Lawson, Noah Skartvedt, Michael Charles, and Nicholas W. Brown (collectively, “Defendants,” and together with Robinhood, the “Parties”), through their undersigned counsel, respectfully submit this stipulated motion to jointly request that the Court enter the proposed order

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Davis Wright Tremaine LLP LAW OFFICES 920 Fifth Avenue, Suite 3300 Seattle, WA 98104-1610 206.622.3150 main · 206.757.7700 fax

below. The proposed order would approve the Parties’ agreement that Defendants shall not pursue certain civil or criminal enforcement actions against Robinhood, and would stay the above- captioned action pending the Ninth Circuit’s resolution of related appeals that the Parties agree present the same preemption issues raised in this case. In support of their request, the Parties represent as follows:

1.

WHEREAS, on March 30, 2026, Robinhood filed this action against Defendants

concerning Defendants’ potential enforcement of Washington state law concerning Robinhood’s role in the trading of event contracts on Federally regulated Designated Contract Markets (“DCMs”), Dkt. 1;

2.

WHEREAS, Robinhood has alleged that all state laws are preempted as they relate

to trading of event contracts on DCMs as a result of the Commodity Exchange Act (“CEA”);

3.

WHEREAS, currently before the United States Court of Appeals for the Ninth

Circuit are appeals arising from litigation in the United States District Court for the District of Nevada captioned Robinhood Derivatives, LLC v. Dreitzer, No. 25-cv-01541-APG-DJA (D. Nev. Nov. 25, 2025), appeal filed, No. 25-7831 (9th Cir.); KalshiEx, LLC v. Dreitzer, No. 25-cv-00575-APG-BNW (D. Nev. Nov. 24, 2025), appeal filed sub nom. KalshiEx, LLC v. Assad, No. 25-7516 (9th Cir.); and North American Derivatives Exchange, Inc. v. Dreitzer, No. 25-cv-00978-APG-BNW (D. Nev. Oct. 14, 2025), appeal filed sub nom. North American Derivatives Exchange, Inc. v. Nevada, No. 25-7187 (9th Cir.) (the “Ninth Circuit Appeals”);

4.

WHEREAS, the Ninth Circuit Appeals are fully briefed, were argued on April 16,

2026, and concern the same preemption issues raised by Robinhood’s Complaint; and

5.

WHEREAS, the Parties have conferred regarding the action and agree good cause

exists to grant their requested relief to prevent unnecessary expenditure of judicial resources and the Parties’ resources while the related issues are before the Ninth Circuit.

6.

The Parties therefore stipulate and agree (subject to Court approval) that: STIPULATED MOT. AND [PROPOSED] ORDER RE: ENFORCEMENT ACTIONS

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Davis Wright Tremaine LLP LAW OFFICES 920 Fifth Avenue, Suite 3300 Seattle, WA 98104-1610 206.622.3150 main · 206.757.7700 fax a. Defendants shall not pursue civil or criminal enforcement actions against

Robinhood for alleged violations of RCW §§ 4.24.070, 9.46.0241(3)–(4), 9.46.0253, 9.46.0269(d), 9.46.0368, 9.46.180, 9.46.215, 9.46.217, 9.46.220–.222, 9.46.228, 9.46.240, 19.86.010, 19.86.020, 19.86.080, 19.86.140, or any other Washington state law with respect to Robinhood’s role in transactions involving event contracts traded on a DCM until further Order of this Court is issued following a decision by the Ninth Circuit resolving one or more of the Ninth Circuit Appeals (the “Ninth Circuit Decision”) and the occurrence of the first of the following events (the “Conditions”):

i. The deadline to seek en banc review of the Ninth Circuit’s decision expires without such further review being sought; or ii. The request for such further review is denied. b. This action shall be administratively stayed pending Order of this Court

following the Ninth Circuit Decision and the occurrence of the first of the Conditions.

c. Within ten days of the Ninth Circuit Decision and the occurrence of the first

of the Conditions, the Parties shall meet and confer regarding whether agreement may be reached about the status of this action.

d. Absent agreement to a different course of action following the Parties’

conference, within twenty days of the Ninth Circuit Decision and the occurrence of the first of the Conditions, the Parties shall submit a status report informing the Court of their respective opinions regarding the impact of the Ninth Circuit Decision and the occurrence of the Condition on the status of this action.

e. If this Court does not enter a further Order, as specified in item 6(b) above,

within eighteen (18) months of the date of filing of this Stipulation, Defendants reserve the right to withdraw this Stipulation upon fourteen (14) days’ written notice to Robinhood.

f. The Parties agree that by entering into this Stipulation, they do not waive

any rights in this action beyond those expressly stated herein. The Parties also agree that

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Davis Wright Tremaine LLP LAW OFFICES 920 Fifth Avenue, Suite 3300 Seattle, WA 98104-1610 206.622.3150 main · 206.757.7700 fax

this Stipulation does not resolve any claim or defense asserted in this action, and that neither Robinhood nor Defendants will make any motion or argument on the basis of this Stipulation, except as it concerns enforcement of this Stipulation. DATED this 20th day of May, 2026.

By s/ Kenneth E. Payson Kenneth E. Payson, WSBA #26369 920 Fifth Avenue, Suite 3300 Seattle, WA 98104 Telephone: (206) 622-1610 Fax: (206) 757-7700 Email: [email protected]

Kevin J. Orsini (pro hac vice) Antony L. Ryan (pro hac vice) Brittany L. Sukiennik (pro hac vice) 375 Ninth Avenue New York, New York 10001 Attorneys for Robinhood Derivatives

LLC NICHOLAS W. BROWN Attorney General By s/ Andrea Alegrett ANDREA ALEGRETT, WSBA #50236 TERRENCE K. MANGAN, JR, WSBA #65269 Assistant Attorneys General Consumer Protection Division 800 Fifth Avenue, Suite 2000 Seattle, WA 98104 206-464-7744 [email protected] [email protected] Attorneys for Defendant Nicholas W. Brown, in his official capacity as Attorney General for the State of Washington By s/ Suzanne Becker SUZANNE BECKER, WSBA #40546 MATTHEW KERNUTT, WSBA #35702 Assistant Attorneys General PO Box 40100 Olympia, WA 98504-0100 [email protected] [email protected] Attorneys for Defendants Tina Griffin, Alicia Levy, Sarah Lawson, Noah Skartvedt, and Michael Charles in their official capacities with the Washington State Gambling Commission STIPULATED MOT. AND [PROPOSED] ORDER RE: ENFORCEMENT ACTIONS

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Davis Wright Tremaine LLP LAW OFFICES 920 Fifth Avenue, Suite 3300 Seattle, WA 98104-1610 206.622.3150 main · 206.757.7700 fax ORDER IT IS SO ORDERED.

DATED this 21st day of May 2026.

A John C. Coughenour United States District Judge