SectorWire
SearchGet the daily briefing
Menu

Kalshi asks Ohio court to block proposed $5m penalty

Enforcement & compliance

Kalshi filed a lawsuit against the Ohio Casino Control Commission on 29 June, seeking to stop a proposed $5m penalty over alleged unlicensed sports betting. The company argues that the enforcement plan violates its constitutional rights; the commission’s position is that Kalshi’s sports contracts fall under Ohio gambling law, which Kalshi disputes.

The case could affect whether Ohio can apply its gambling enforcement framework to Kalshi’s sports contracts.

Request a correction

Keep reading

Enforcement & compliance

New York gaming commission asks court to enforce Kalshi subpoenas

New York's Gaming Commission has petitioned a Manhattan court to require Kalshi to comply with subpoenas seeking information about its state operations. The commission wants the records to determine whether to impose civil penalties; Kalshi says its event contracts are financial products regulated by the CFTC.

A Manhattan court has been petitioned by the New York State Gaming Commission to compel Kalshi to comply with subpoenas for records on its in-state operations. Those records, per the petition, would let the commission decide on civil penalties. Kalshi, for its part, insists its event contracts are financial products regulated by the CFTC.

Continue reading