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Wisconsin sues prediction market platforms over sports event contracts

Enforcement & compliance

Wisconsin’s Department of Justice has sued prediction market platforms, alleging that their sports event contracts enable illegal sports gambling under state law. The companies named include Crypto.com, Polymarket, Coinbase, Robinhood and Kalshi; Wisconsin Attorney General Josh Kaul said the contracts amount to sports bets.

The lawsuits challenge whether prediction market operators can offer sports event contracts in Wisconsin without following state gambling laws.

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Enforcement & compliance

Ohio regulator orders Robinhood Derivatives to halt sports-event contracts by 16 October

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.

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