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The Ohio Casino Control Commission has ordered 10 prediction market operators and brokers to stop offering sports event contracts in the state, saying the products qualify as sports gaming under Ohio law and require a state license.
According to the commission, none of the 10 recipients holds that license. The notices tell the companies to stop soliciting or accepting orders from Ohio residents and to confirm compliance by Oct. 16.
Ohio ties its action to a recent federal appeals ruling
The commission said its enforcement step relies on a Sept. 25 ruling from the Sixth U.S. Circuit Court of Appeals in _KalshiEx LLC v. Schuler_. In that decision, the court affirmed Ohio’s denial of Kalshi’s request for a preliminary injunction and said the Commodity Exchange Act does not expressly preempt the state’s sports-betting laws.
Circuit Judge Julia Smith Gibbons wrote: “Accordingly, we hold that the CEA does not expressly preempt the states’ sports-betting laws because those laws do not directly regulate DCMs but have only incidental effects on them.”
OCCC Interim Executive Director Andromeda Morrison said the ruling “makes clear that sports event contracts are subject to Ohio’s gambling laws” and that the commission expects the named entities to stop what it described as illegal gambling activity in Ohio immediately.
The 10 companies named in Ohio’s notices
The notices were issued to Underdog, Gemini Titan, Coinbase, ProphetX, Novig, Robinhood Derivatives, Polymarket’s U.S. entity, Plus500US Financial Services, Moomoo Financial and Webull Financial.
The commission said the orders also bar the companies from operating a designated contract market or futures commission merchant offering sports event contracts to people in Ohio.
Kalshi was not among the 10 companies that received notices, with the source report stating that Ohio is already involved in ongoing litigation against the operator. Robinhood had previously argued that the contracts were swaps and that federal law preempted Ohio’s rules.
What happens next
The companies have until Oct. 16 to confirm compliance with the commission. Ohio said failure to comply could lead to administrative, civil, nuisance, or criminal actions.
For players, the immediate takeaway is straightforward: Ohio regulators are treating these sports event contracts as gambling products that cannot be offered in the state without the proper license. The next key question is whether any of the companies comply, challenge the notices, or face further enforcement.
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Source: As reported by yogonet.com.
