State's gaming commission says Kalshi, Robinhood, Crypto.com all need licences to offer sports contracts.
Nothing attracts a crowd like a crowd. Fast on the heels of Nevada and New Jersey sending cease-and-desist letters to prediction market operators offering contracts on sports events and Massachusetts openly questioning their legality, Ohio piled in on Monday (31 March).
As explained in a press release, the Ohio Casino Control Commission (OCCC) issued cease-and-desist notices to three sites allowing users to risk money on sports outcomes: Kalshi, Robinhood and Crypto.com.
In his statement within the press release, OCCC executive director Matthew Schuler was explicit in his interpretation of what the trio of companies are doing.
“Purchasing a contract based on which team a person thinks will win a sporting event is no different than placing a bet through a traditional sportsbook,” said Schuler. “The only difference is that these event contracts do not have the consumer prote..
