CFTC approves ProphetX as US contract market and clearing organisation

The Ohio Casino Control Commission issued demands on 2 October for prediction market operators and brokers to withdraw sports contracts from Ohio. The outlet reported that recipients must provide written confirmation of compliance by 16 October, following a federal appeals ruling allowing Ohio to apply its gambling laws to these contracts.

The Ohio Casino Control Commission sent cease-and-desist letters on 2 October to 10 prediction market operators and brokers, requiring each to confirm in writing by 16 October that it has stopped offering sports event contracts to people in Ohio. The recipients are Coinbase, Gemini, Titan, Moomoo Financial, Novig, Plus500US, Polymarket, Prophet X, Robinhood Derivatives, Underdog Predict and Webull Financial. Kalshi, which contested the commission in court, did not receive a new letter; it already faces a proposed $5m fine from the commission.