Ohio Casino Control Commission warns sports books to offer prediction markets

The Ohio Casino Control Commission has published a letter warning sports books on the offer of prediction markets.

Ohio with one of the largest legal sports betting markets in the United States, Sportsbook operators have now been warned by the Ohio Casino control commission on work or the integration of prediction markets in their services. Dated August 25 and seen by the closing line, the letter stressed that any prediction market requires an appropriate license and verification to operate within the State.

However, the letter did not suggest whether obtaining a second license would be necessary for the prediction markets, or if operators with an existing license could examine the prediction markets under this same.

This could even affect operators who use prediction markets in other states, the letter indicating that the restriction of the use of these markets to Ohio residents “may not alleviate the concern of adequacy”, depending on the circumstances.

“Any commercial relationship between an Ohio Sports game licensee (including its related entities or those under common property) with any offering (IES) at all altitude or facilitating the offer of OHIO -free sports games by questioning the reputation of the licensee and the integrity of the sports director in Ohio”, declared the letter, signed by Matthew Schuler The WOI, said.

This occurs when the Ohio Governor Mike Dewine called on the casino control commission to ban the propeller bets, requesting that they be removed from the list of betting operators are legally authorized to offer.

The world in constant increase in prediction markets

This comes after one of the largest prediction markets, Kalshi, recently inflicted on sports betting earlier this month. Another giant of sports betting, Fanduel, also expressed his interest in entering the world of prediction markets, with rumors on a potential partnership between IT and Kalshi Traffic.

Indeed, competition concerning the prediction markets has been held in recent months. If the Ohio Casino Control Commission adopts a stronger position on the issue, with the power of its general public in sports betting, it could represent a major obstacle to overcome the growing sector.

Featured image: Wikimedia Commons, authorized under CC by-Sa 2.0

The Casino Post Ohio control commission warns sports books to offer prediction markets appeared first on Readwrite.

[og_img]

About The Author

lawi23000

See author's posts