The Ohio Casino Control Commission (OCCC) has issued cease-and-desist notices to Kalshi, Robinhood, and Crypto.com, three companies offering event contracts related to sporting events to Ohio residents. Upon review, the Commission determined that these event contracts fall under the definition of sports gaming as outlined in Ohio law, which requires proper licensure for legal operation within the state.
While the Commodity Futures Trading Commission has regulated event futures contracts for years, these companies have only recently started offering futures contracts specifically tied to sporting events.
“Purchasing a contract based on predictions for the outcome of a sporting event is no different than placing a wager through a sportsbook,” stated OCCC Executive Director Matthew Schuler. “What distinguishes these contracts is their lack of consumer protections mandated by Ohio law. Additionally, they are accessible to individuals under 21 years of age. The Commission has a duty to uphold its statutory responsibilities and safeguard the integrity of sports gaming in Ohio.”
The cease-and-desist notices require the companies to immediately stop offering, facilitating, or participating in the provision of sports event contracts within the state. Each operator must confirm compliance with the notices in writing to the OCCC no later than Monday, April 14, 2025. Failure to comply may lead to further legal actions.
The Commission’s decisive action underscores its commitment to regulating lawful gaming practices and ensuring consumer protections for Ohio residents.
