Ohio regulator warns sportsbooks about offering prediction markets
The OCCC said it will consider the choices as it evaluates the suitability of a sports gaming licensee.
US.- The Ohio Casino Control Commission (OCCC) has sent a letter to sportsbooks warning against offering prediction markets. The letter signed by OCCC executive director Matthew Schuler warns that the regulator will take such offerings into consideration when evaluating the suitability of licensees.
It reads: “The Commission understands that sports gaming licensees may be considering entering the prediction market landscape. Well-known sportsbooks have apparently explored making sporting event contracts available outside of the ambit of their licensure with the Commission.”
“If an Ohio sports gaming licensee chooses to offer sporting event contracts in Ohio through their own DCM or FCM (or those under common ownership or operated by a related entity), or decides to associate, coordinate, or otherwise partner directly or indirectly with entities offering or facilitating the offering of sporting event contracts in Ohio, the Commission will consider these choices as it evaluates the continued suitability of a sports gaming licensee, including key employee licensees, to maintain a licence.”
The OCCC recently issued cease-and-desist notices to Kalshi, Robinhood, and Crypto.com. It said event contracts offered by the companies on sporting events meet the definition of sports gaming under state law.
