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CFTC backs Kalshi in Ohio prediction market appeal

Regulation

The CFTC filed an amicus brief in the US Court of Appeals for the Sixth Circuit backing Kalshi in its dispute with Ohio regulators. The agency argued that federal law gives it exclusive jurisdiction over prediction markets; Ohio officials say Kalshi’s sports event contracts constitute unlicensed sports betting. The filing challenges a district court decision denying Kalshi a preliminary injunction.

The appeal could affect whether state gambling laws apply to prediction-market sports contracts.

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Regulation

Ohio regulator orders licensed sportsbooks to stop prediction market services

Ohio's Casino Control Commission has told licensed online sportsbooks to cease providing services to prediction markets trading on sports events, according to a letter dated 20 October. Interim executive director Andromeda Morrison said licensees that support such platforms risk having their suitability reopened, which could lead to suspension or revocation. The OCCC issued cease-and-desist notices to 10 prediction market platforms in early October.

Ohio's Casino Control Commission has told online sportsbooks licensed in the state to stop providing services to prediction markets that trade on sports events, according to a letter dated 20 October from interim executive director Andromeda Morrison. The commission said licensees that do not stop such activity immediately risk having their suitability reopened, and a finding of unsuitability could lead to a licence being suspended or revoked.

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