The Ohio Casino Control Commission confirmed that Robinhood, Gemini and Moomoo Financial have stopped offering new sports event contracts to Ohio customers. Coinbase is to halt its offerings by November 13, following cease-and-desist orders sent October 2.
Ohio prediction markets face a mixed compliance picture after the OCCC targeted 10 operators on October 2. Robinhood, Gemini and Moomoo Financial have stopped new sports contracts; Coinbase halts by November 13. Plus500US complied on October 21. Underdog and Polymarket have sued the state, while Novig, ProphetX and Webull are still in talks.
- Only Half of Ohio Prediction Market Firms Have Complied
- The Sixth Circuit Ruling Reshaped the Legal Fight
- Ohio Extends the Net to Gaming Licensees
Ohio prediction markets are a divided story after the state sent cease-and-desist orders to 10 operators. The deadline to confirm compliance ran to October 16. Two months on, five have complied and three are still talking.
The latest confirmations add Robinhood, Coinbase, Gemini and Moomoo Financial to the group that has walked away from Ohio sports event contracts. Plus500US was the first to comply, confirming on October 21. The pattern shows what enforcement can achieve when a company faces a credible penalty tied to the revenue it earns from Ohio customers.
Only Half of Ohio Prediction Market Operators Have Complied
The remaining split is sharp. Underdog and Polymarket filed lawsuits against the state, and the two challenges are not identical. In contrast, Polymarket’s suit argues that Ohio’s physical-presence and in-state server requirements violate the Commerce Clause, claiming the framework discriminates against interstate commerce. That argument pushes the dispute from Ohio law into federal constitutional territory.
Novig, ProphetX and Webull remain in discussions with the commission. The regulator confirmed the progress to LSR but did not name which companies have complied. Its warning is explicit: ignoring the Arden Consult orders can trigger administrative, civil or criminal action. The financial penalty is tied to revenue generated from Ohio customers, which puts a hard number behind the deadline.
The Sixth Circuit Ruling Reshaped Ohio Prediction Markets
The legal backdrop for the state’s push is the Sixth Circuit’s September ruling against Kalshi. The panel held that Kalshi’s sports-event contracts are not swaps under federal commodities law. It also concluded that even if they were swaps, federal law neither expressly nor impliedly preempts state gambling rules. That reasoning handed the states room to regulate the markets.
Kalshi was not among the 10 companies targeted by the OCCC. The company was already litigating with the state, so it sat outside the sweep. Following this ruling, the enforcement wave was aimed at operators that had not already reached a courtroom. The result is a two-track fight: regulated compliance for some and constitutional challenges for others.
Ohio Also Extends the Net to Gaming Licensees
The regulator did not limit itself to prediction market operators. In an October 20 letter, the OCCC warned operators, suppliers and other licensees that supporting unlicensed prediction markets could jeopardise their gaming licences. The list includes market making, liquidity provision, integrity monitoring, data security and other technology support.
Licensees were ordered to stop supporting platforms that offer sports event contracts and confirm compliance by October 30. Several met the deadline, while others have not confirmed yet. The regulator told LSR that it plans to follow up with the laggards. That is a significant move, because it ties the compliance of gaming licensees to the conduct of platforms they do not directly operate.
Frequently Asked Questions
Who has halted Ohio sports event contracts?
Robinhood, Gemini, Moomoo Financial and Coinbase have stopped offering new sports event contracts to Ohio customers. Plus500US confirmed compliance on October 21, while four other firms remain in discussion or litigation.
What happens to the prediction market firms that sued?
Underdog and Polymarket filed lawsuits against the OCCC. Polymarket challenges the constitutionality of Ohio’s licensing framework, arguing that in-state server and physical-presence rules violate the Commerce Clause. The companies remain in legal proceedings rather than confirming compliance.
Why did the Sixth Circuit ruling matter?
The September ruling held that Kalshi’s sports-event contracts are not federal swaps. It also found that even as swaps, federal commodities law does not expressly or impliedly preempt state gambling rules. That decision cleared the path for Ohio’s enforcement campaign.
How are gaming licensees involved?
The OCCC warned operators, suppliers and other licensees that supporting unlicensed prediction markets could jeopardise their gaming licences. Services covered include market making, liquidity provision and integrity monitoring. Licensees must stop the support and confirm compliance by October 30.
What penalties do the firms face?
The OCCC warned that companies ignoring its orders could face administrative, civil or criminal action. Financial penalties are tied to revenue generated from Ohio customers. The regulator told LSR that it plans to follow up with licensees who have not confirmed compliance.
This article has been thoroughly researched and reviewed by the CasinoBait editorial team to ensure accuracy and relevance for Asian casino players.
