Ohio Regulators Send Cease-and-Desists To Kalshi, Robinhood, Crypto.com

2026-04-27T22:07:53Z

CarinaMcMaster6: Created page with " Ohio regulators are joining their peers in Nevada and New Jersey and telling Kalshi, Robinhood, and now Crypto.com to shut down trading of sports-related event contracts in the state. The Ohio Casino Control Commission (OCCC) announced on Monday that it issued cease-and-desist notices to the three [https://www.plustap.it/2023/06/22/maximizing-productivity-tips-for-a-successful-workday/ companies]. This, the regulator said, was after determining..."

Ohio regulators are joining their peers in Nevada and New Jersey and telling Kalshi, Robinhood, and now Crypto.com to shut down trading of sports-related event contracts in the state. The Ohio Casino Control Commission (OCCC) announced on Monday that it issued cease-and-desist notices to the three [https://www.plustap.it/2023/06/22/maximizing-productivity-tips-for-a-successful-workday/ companies]. This, the regulator said, was after determining the contracts offered by the companies met the definition of [https://mediawiki1263.00web.net/index.php/User:BelindaMcKeel16 sports betting] under state law and require a sportsbook license. "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," OCCC executive director Matthew [https://www.v5homebrew.com/wiki/User:AngeliaWhitelaw Schuler] said in a [http://bonusi.ge/2015/02/19/gallery-post-type-2/?lang=en press release]. "The only difference is that these event contracts do not have the consumer protections required under Ohio law and are accessible to Ohioans under 21 years of age. The Commission must take action to fulfill its statutory responsibilities and ensure the integrity of sports gaming in Ohio." And now Kalshi has been hit with a cease-and-desist letter by Ohio regulators in connection with sports event contracts. The Ohio Casino Control Commission sent C&Ds to [https://tekno.webruz.net/blog/classic-watches Robinhood] and Crypto dot com as well, per a press release. pic.twitter.com/VuEPPux4aR The commission said the notices "demand" the three companies stop "offering, participating in offering, or facilitating those who offer sports event contracts" in the state. Kalshi, Robinhood, and Crypto have until Monday, April 14 to notify the Ohio sports betting regulator in [https://www.arenagames.us/index.php?title=User:BenedictFielder writing] that they have done so. "The threatened actions by the Ohio CCC seek to undermine not just Kalshi’s contracts, but the authority granted by Congress to the Commodity Futures Trading Commission, which has safely and effectively governed commodities markets for decades," Kalshi CEO and co-founder Tarek Mansour said in a statement on Tuesday. You say tomato, I say that tomato is sports betting Monday’s cease-and-desist notices from the commission mean there are now at least three states actively seeking to shut down sports event [https://git.wangxinlei.cn/sadyechin1532 contract] trading within their borders, judging that business to be a little too much like sports betting. As their name suggests, the contracts that legal sports betting [http://freedomtv.scot/podcasts/ftv-at-aye-write-book-festival-15-a-celebration-of-aye-write/ regulators] are taking issue with allow users to buy and sell contracts tied to sporting events, including single-game wagering. For example, on Monday afternoon, a Kalshi user could buy a "yes" contract for Texas to defeat TCU in the [http://120.48.4.14010080/arlenecamp6351/the-bet-naija-promotion-code-this-2026-is-yohaig/wiki/The+BET9ja+promotion+code+this+2026+is+YOHAIG NCAA women's] [http://oznobkina.o-bash.ru/2018/08/15/kompleks-3/ basketball tournament]. The user would pay 78 cents for that contract, with the potential to win up to another 22 cents if the Longhorns emerge victorious on Monday night. So-called "prediction markets" offered by Kalshi, [https://gratisafhalen.be/author/toddlincoln/ Robinhood] (which is partnered with Kalshi), and Crypto.com began to gain significant traction before, during, and after last year’s [http://121.40.250.81/zlmlawerence15/the-bet-9ja-promo-code-this-2026-is-yohaig/-/issues/1 presidential] election, as they [https://dobreintencje.com/placeholder-png-7/ offered] a [http://81.70.4.1553006/davidabaillieu technically legal] route to wager on the contest that state-regulated sportsbooks lacked. Since then, the prediction market business has [https://boulderdigitalarts.com/forums/topic/the-bet9ja-promotional-code-this-2026-is-yohaig/ continued] to grow. However, the introduction of sports-related event contracts late last year [https://karabast.com/wiki/index.php/User:JaquelineLove5 triggered pushback] from [https://wiki.educationjustice.net/wiki/User:Ashely5767 state-level] [https://dyipniflix.com/site/@gracielaschube?page=about regulators] and the legal gambling industry. Party crashers Nevada, New Jersey, and Ohio have now [https://code.stephenscity.gov/index.php/User:CarinaMcMaster6 officially] had enough. Ohio has also taken the added step of issuing a cease-and-desist letter to Crypto.com, which has yet to be targeted by Nevada or New Jersey, but was technically the first to offer sports-related event contracts for trading. Kalshi is already suing to block Nevada and New Jersey from shutting down trading of its sports event contracts within those states. Whether the federally regulated exchange will do the same in Ohio remains to be seen.

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2026-04-27T22:07:47Z

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Ohio Regulators Send Cease-and-Desists To Kalshi, Robinhood, Crypto.com

User:CarinaMcMaster6