Four platforms quit Ohio sports contracts after casino commission cease-and-desist orders
Robinhood, Coinbase, MooMoo Financial, and Gemini agreed to stop offering sports event contracts in Ohio after the Ohio Casino Control Commission sent cease-and-desist orders to 10 firms. The four platforms pulled the products immediately. The commission's action targets prediction market operators offering contracts tied to sports outcomes. The article does not name the six firms that did not comply. The move comes as Polymarket continues litigation against the regulator.
The Ohio pullout means Robinhood's $173 million quarterly event-contract revenue now faces a second state freeze after its earlier Ohio settlement. Unlike Kalshi, which is fighting state orders in federal court, Robinhood chose compliance twice. That strategy preserves executives from criminal exposure but leaves the platform with no sports product in Ohio and no direct CFTC license to fall back on.
MooMoo, Gemini, and Coinbase lack the partnership infrastructure Robinhood built with Kalshi and Rothera, so their Ohio exits are more absolute. Each settlement becomes template law that the next state copies. The six firms that ignored the cease-and-desist order now become the test cases for whether Ohio will escalate to criminal charges like Utah has against Kalshi's co-founders. Platforms must now budget for state enforcement timelines that move faster than any federal rulemaking.
Robinhood's second Ohio retreat extends the pattern of federally partnered platforms folding to state gambling orders rather than fighting, while Kalshi battles alone in multiple state courts and faces felony charges in Utah.