The Coalition for Prediction Markets said Sean Patrick Maloney will become its president and chief executive, while Patrick McHenry will join as a senior adviser. The appointments add two former members of Congress to the group, which was formed by Crypto.com and Kalshi last month.
The appointments add policy and advocacy leadership as prediction markets face scrutiny from state authorities.
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Ohio's Casino Control Commission confirmed that Robinhood, Gemini and Moomoo Financial had stopped offering new sports event contracts to Ohio customers, while Coinbase agreed to halt them by 13 November. The four firms join Plus500US in complying with cease-and-desist orders issued to 10 operators; two others have sued Ohio and three remain in discussions with the commission.
Robinhood, Gemini and Moomoo Financial have ceased providing new sports event contracts to Ohio customers, the Ohio Casino Control Commission told Legal Sports Report. Coinbase has agreed to halt its offerings by 13 November.
The Ohio Casino Control Commission has told sports betting and fantasy contest licensees and applicants that providing services to prediction market operators may affect their suitability. Interim executive director Andromeda Morrison said licensees must confirm compliance with the notice by 30 October. The commission issued cease-and-desist letters to 10 prediction market companies after a Sixth Circuit ruling allowed Ohio to enforce its gaming laws against Kalshi.
The Ohio Casino Control Commission has sent a notice to sports betting and fantasy contest licensees and applicants in the state warning that providing services to prediction market operators may affect their suitability. Andromeda Morrison, the commission's interim executive director, told the seven-member Commission on Wednesday that licensees and applicants must confirm compliance with the notice by 30 October. The notice was first reported by The Event Horizon newsletter.
Crypto.com and Novig have sued Missouri officials in federal court to stop the state enforcing its sports betting laws against their sports event contracts. The suits were filed on Friday as 30-day deadlines expired for six prediction market operators ordered by Attorney General Catherine Hanaway to stop offering the contracts or obtain state authorisation. Crypto.com argues the Commodity Exchange Act gives the CFTC exclusive jurisdiction.
Crypto.com and Novig have taken Missouri officials to federal court in an effort to block enforcement of the state's sports betting laws against their sports event contracts. The suits arrived on Friday, the same day that 30-day deadlines ran out for six prediction market operators told by Missouri Attorney General Catherine Hanaway to halt sports event contracts or secure state authorisation.
Missouri Attorney General Catherine Hanaway ordered Polymarket, Kalshi, Crypto.com, Novig, Underdog and Robinhood to comply with state sports wagering laws or stop offering sports event contracts in Missouri. The companies have 30 days to confirm compliance; the state says the contracts require Missouri Gaming Commission licences, and Robinhood disputes the state’s position.
Underdog filed a federal lawsuit challenging Connecticut’s application of state gambling rules to its sports event contracts, seeking an injunction against the Department of Consumer Protection and Attorney General William Tong. The filing follows a state order telling nine platforms to stop offering and advertising the contracts while allowing users to withdraw available funds; Connecticut says the products require state licences.