Kalshi files federal lawsuit against Ohio gambling regulator

[The Buzz]

Kalshi, the prediction market, has filed a federal lawsuit against the Ohio Casino Control Commission (OCCC) and the state attorney general, seeking both preliminary and permanent injunctions.

The suit, filed in the U.S. District Court for the Southern District of Ohio, argues that the OCCC is acting beyond its authority. Specifically, it claims the Commission's threat to revoke the licenses of vendors who might do business with Kalshi is potentially detrimental to Kalshi's business.

This is the fifth legal case involving Kalshi, adding Ohio to a growing list that already includes Nevada, New Jersey, Maryland, and Massachusetts.

From InGame.com:

Kalshi claims it would suffer financial and reputational damage if “some of these prospective business partners” with “millions of active users” acquiesce to the OCCC.

The filing claims that the OCCC is “misusing its regulatory authority” because it is attempting to threaten sportsbooks and vendors in other states as well as in Ohio. Essentially, the OCCC appears to classify federally regulated prediction markets as illegal operators, and suggests that working with prediction markets could have the same consequences for licensees as working with black-market partners. This process, according to the suit, is meant to “directly undermine Kalshi’s business by chilling its business relations – both in and out of Ohio.”

It is unclear whether Kalshi will take the same tack in Arizona or Michigan.

Read more here: https://www.ingame.com/kalshi-sues-o...-partnerships/