The Ohio Casino Control Commission ordered Kalshi to pay a $5 million fine, alleging its sports-event contracts amount to unlicensed sports betting. Kalshi disputes Ohio’s position and says it has the right to operate as a federally licensed exchange; the company is litigating the matter with the state.
The order raises licensing and enforcement risks for prediction-market sports contracts in Ohio.
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The Ohio Casino Control Commission ordered state gambling licensees, suppliers and certified service providers to end dealings with unlicensed sports prediction market operators and confirm compliance by 30 October. The commission warned that non-compliance could lead to investigation, licence denial, non-renewal, suspension or revocation.
The Ohio Casino Control Commission has ordered gambling licensees in the state to end business dealings with unlicensed sports prediction market operators and to confirm compliance by 30 October. The warning letter was dated 20 October, less than a month after the commission sent cease-and-desist orders to 10 prediction market operators. The commission said it was concerned by reports that some of its licensees continue to facilitate, support or provide services to entities offering sports event contracts.
The Ohio Casino Control Commission is advancing a rule to prohibit sports bettors from funding wagers with credit cards, an agency spokesperson confirmed. The proposal has not taken effect and must pass through the Common Sense Initiative before receiving approval from the Joint Committee on Agency Rule Review.
The Ohio Casino Control Commission has reiterated that Robinhood Derivatives must obey its cease-and-desist order by 16 October. The order concerns sports-event contracts, and Ohio issued similar notices to nine other firms.
The Ohio Casino Control Commission has restated its cease-and-desist order against Robinhood Derivatives concerning sports-event contracts and said the company must comply by 16 October, according to a report. The order was reasserted as state pressure on prediction-market platforms continues.
Connecticut's Department of Consumer Protection issued cease-and-desist orders to nine prediction market platforms over sports event contracts offered to residents. The platforms include Polymarket, Coinbase, Crypto.com, Robinhood, ProphetX, Novig, Webull, Gemini and Underdog Predict.
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.