Ohio is preparing a fine against Kalshi for operating without a license
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The gambling regulator of the state of Ohio intends to fine Kalshi for $ 5 million for the fact that the platform, according to the authorities, offered unlicensed sports betting in the state. We are talking specifically about the proposed fine, that is, not yet about the final penalty, but about the commission’s intention to impose a sanction.
According to the Sports Business Journal, the claims of the Ohio Casino Control Commission are related to the fact that Kalshi, according to the regulator, actually operates as an unlicensed bookmaker. The publication also says that the company does not pay 20% tax on sports betting income, and its self-exclusion program and advertising practices do not meet state requirements.
The conflict has been dragging on since the spring of 2025
Back on March 31, 2025, the Ohio Casino Control Commission sent cease-and-desist notifications to Kalshi, Robinhood and Crypto.com, demanding to stop offering sports event contracts to residents of the state. The Commission explicitly stated that such contracts fall under the definition of sports gaming and require a license to operate legally in Ohio.
At that time, Matthew Schuler, the executive director of the commission, said that buying a contract for the outcome of a sporting event was, in fact, no different from a regular sportsbook bet. He separately stressed that such products do not provide the consumer protections required by Ohio law, and at the same time are available to users under the age of 21.
Kalshi still has a dispute with the authorities and the right to a hearing
The situation for Kalshi became more complicated after the March court decision, when a federal judge in Ohio supported the state’s position and pointed out that sports prediction markets platforms should be regulated as gambling, and not as regular financial swaps. This was a serious blow to the company’s argument for federal protection of its business.
Kalshi now says it is studying the commission’s claims and is disappointed with the regulator’s new move, as the company considers itself a federally licensed exchange. At the same time, the platform has 30 days to request a hearing on the proposed fine, so the story is not yet complete.
Source: https://bookmaker-ratings.ru/news/categories/business-gambling-gaming/igornyy-regulyator-ogayo-nameren-oshtrafovat-birzhu-prognozov-kalshi-na-5-mln-za-nelegal-nuyu-rabotu/
