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

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 companies.


This, the regulator said, was after determining the sports event contracts offered by the companies met the definition of 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 Schuler said in a 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 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 writing that they have done so.