Kalshi prediction markets on sports constitute gambling, Ohio judge rules
Federal Court says sports-event contracts resemble betting and should fall under state regulation.
1 min read • Mar 11 • By
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Global Gaming Awards
JDB Gaming
Linebet
Makeberry Affiliates
GR8_TECH
DATA.BET
Euro Games Technology
GammaSweep
Logifuture
1spin4win
Z-Gaming
GammaPlus
ReferOn
BetConstruct
bet365 Partners
OMNIPLAY
SmartSoft
SPAYZ.io
ONLYPLAY
AMATIC Online
Imagine Live
Galaxsys
Bally’s Intralot
Federal Court says sports-event contracts resemble betting and should fall under state regulation.
The $5.9m net revenue figure during the fourth quarter of 2025 represents a 20.3% decrease, while the $20.5m generated during the full-year period equates to a fall of 11.9% year-over-year.
The operator will begin utilizing the Vergence AI engine to prevent, identify and report suspicious betting activity, created in 2025 following the joint venture with Palantir and TWG AI.
Licensed betting companies warn that event-based prediction contracts risk blurring regulatory boundaries with sports betting and financial derivatives.
The deal includes a CFTC-registered designated contract market and derivatives clearing organization, enabling Underdog to operate its own federally compliant exchange.
Clear clients with international accounts will be able to access Kalshi contracts through XP International, starting with financial and economic events in the US-regulated market.
The marketing executive originally joined PrizePicks in February 2025, believing he had the opportunity to help grow one of the ‘most innovative and disruptive companies’ in DFS.
Senators from Oregon and Minnesota introduced the End Prediction Market Corruption Act on March 5, which bans the President, VP, Congress and others from trading event contracts.
CEO Peter Jackson and CFO Rob Coldrake took part in the Morgan Stanley Technology, Media & Telecom Conference, speaking on Q4 and FY2025 financial results and FanDuel Predicts.
Michigan now represents the 10th state across the US to become engaged in litigation with the prediction markets operator, but just the third to file a lawsuit as a plaintiff in state court.