COLUMBUS, Ohio — Ohio's gambling regulators are getting ready to hit the so-called “prediction market” platform Kalshi with a $5 million fine for what the state has framed as unlicensed sports betting.
The Ohio Casino Control Commission sent Kalshi a notice this week of its “intent to impose” a penalty against the company, arguing that Kalshi has not heeded the state’s warnings to stop allowing sports bets on its platform.
“The Commission takes its regulatory responsibilities to ensure compliance with the law and the integrity of sports gaming in Ohio seriously,” the release read. “Kalshi’s refusal to stop offering sports gaming in Ohio necessitated the Commission to take action to uphold the requirements of Ohio law.”
Kalshi is one of various online markets that allow users to place financial stakes on certain predictions, like whether or not Americans will eventually receive tariff stimulus checks.
But Kalshi’s “prediction market” also includes the world of sports. On April 15, for example, users were invited to place bets on results in cricket, tennis, golf, major league baseball, European soccer matches, Russian basketball games and much more.
Kalshi is not a licensed sportsbook in Ohio — it also doesn’t consider the wagers made on its platform “betting.” Its official website says the company created a new fiscal commodity called “event contracts,” with the intent “to allow people to capitalize on their opinions, trade in the domain of everyday, and hedge risks that relate to them.”
Not all have bought the distinction. Cleveland.com reported last month that a federal judge denied Kalshi’s request for an injunction that would have prevented Ohio’s regulators from “enforcing Ohio’s sports-gambling laws against the New York City-based company.” Kalshi appealed the decision.
When reached for comment April 15, a spokesperson for Kalshi sent the following statement: “We are disappointed in this latest development, especially considering our ongoing litigation with Ohio and recent rulings in other courts confirming our right to operate as a federally licensed exchange. We are reviewing the Gaming Commission’s letter.”
Ohio Attorney General Dave Yost said on social media that he "wouldn’t bet” on Kalshi’s long-term future in Ohio.
“Ohio put Kalshi on notice today that its ‘prediction markets’ are unlawful gaming and proposed a $5 million fine,” Yost said. “A federal court already agreed with our reading of the law.”
Ohio put Kalshi on notice today that its “prediction markets” are unlawful gaming and proposed a $5 million fine. A federal court already agreed with our reading of the law.
— Dave Yost (@DaveYostOH) April 14, 2026
I wouldn’t bet on how long Kalshi will be operating in Ohio. pic.twitter.com/Gcw3GOTTlk
The Ohio Casino Control Commission said it wouldn’t make further comments on its forthcoming fine against Kalshi.
