Ohio Judge Blocks Kalshi's Gambling Loophole
Cleveland News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Ohio Judge Blocks Kalshis Bid to Dodge Sports Betting Laws
A federal judge in Ohio has ruled against Kalshi, a New York prediction market company, blocking it from using federal commodity rules to avoid state sports gambling laws. Kalshi, which operates through the Robinhood app, claims its platform is a financial product, not gambling. However, the judge deemed it straight-up gambling, citing underage betting as a red flag. Ohios strict sports betting rules require licensed operators to pay heavy taxes and follow consumer protections, which Kalshi could potentially bypass. The company plans to appeal the decision, keeping the prediction markets versus gambling debate alive in Ohio.
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