Ohio threatens Kalshi: sports contracts are illegal gambling
- —US appeals court rejected Kalshi's bid to block Ohio's enforcement
- —Ohio Casino Control Commission proposed a $5 million fine for unlicensed sports betting
- —Kalshi argues its contracts fall under CFTC jurisdiction, not state law
- —Governor DeWine said Kalshi must follow the same rules as other operators
Why it matters: The case will determine whether states can regulate prediction markets as gambling, a key question for the entire US prediction-market industry.
Source: Bloomingbit