Ohio House Speaker Matt Huffman said online casino and lottery-game bills are unlikely to pass in the next year. Lawmakers considered the proposals during budget discussions but did not advance them; Governor Mike DeWine opposed expanding iGaming, citing concerns about gambling addiction.
The comments indicate that proposed online casino and lottery expansion is unlikely to advance in Ohio in the near term.
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The US Supreme Court may consider whether sports-related event contracts fall under federal financial regulation or state gambling laws, as it reviews cases for its new term. The Third and Ninth Circuits have reached opposing conclusions in disputes involving Kalshi, while petitions urge the court to address the issue.
Underdog filed a federal lawsuit against Connecticut officials after the state Department of Consumer Protection ordered it and eight other companies to stop offering or advertising sports-event contracts and let users withdraw existing funds. The company asked the court to block state enforcement, arguing that federal law gives the Commodity Futures Trading Commission authority over its event contracts; Connecticut officials say the contracts breach state gaming rules.
Crypto.com and Robinhood Markets asked the US Supreme Court to clarify whether state gaming regulators can act against event contracts, arguing that the Commodity Exchange Act pre-empts such action. The court has not agreed to take up the issue, while state regulators contend that sports event contracts fall under gambling laws and require licences.
The Ninth Circuit Court of Appeals ruled that sports event contracts at issue in Nevada fall under gambling rules rather than federal swaps law. The court rejected injunction requests from Kalshi, Crypto.com and Robinhood. DraftKings shares gained up to 10%, while Flutter shares rose up to 8%.
A federal appeals court has determined that the sports-related event contracts under scrutiny in Nevada count as gambling products, not swaps regulated by federal commodities law, per a report. Under that outcome, the Nevada Gaming Control Board may keep enforcing state gaming law against such offerings within the state. Kalshi, Crypto.com and Robinhood had asked for injunctive relief to block Nevada regulators from shutting down their sports-related event contract offers in the state, and the court turned those requests down.
Robinhood and Crypto.com separately petitioned the US Supreme Court to consider whether sports event contracts are legal. Both companies confirmed their filings to the outlet on Friday.