Four firms agree to stop Ohio sports event contracts after regulator letters

Moomoo Financial, Robinhood Derivatives, Gemini Titan and Coinbase agreed to stop offering new sports-related event contracts to customers in Ohio between 2 and 13 November 2026. The cessations follow cease-and-desist letters sent by the Ohio Casino Control Commission on 2 October and come after a 5 November interpretation from the Commodity Futures Trading Commission.

What the Ohio Casino Control Commission ordered

The [Ohio Casino Control Commission](/regulation) (OCCC) sent letters on 2 October to ten entities requiring they stop offering sports event contracts to people in Ohio and confirm compliance within 14 days. The ten recipients were: Coinbase, Gemini Titan, Moomoo Financial, Novig, Plus500US, Polymarket, ProphetX, Robinhood Derivatives, Underdog and Webull Financial.

The OCCC based the letters on the Sixth Circuit decision of 25 September, which held that Ohio may apply its gaming law against Kalshi. Plus500US was already declared compliant on 21 October by the commission. With the four firms that have agreed to suspend new contracts — Moomoo, Robinhood, Gemini and Coinbase — five of the ten recipients have now complied or agreed to do so.

Concrete dates and terms of the cessations

Robinhood Derivatives informed internally that, under an agreement dated 26 October, it would stop offering new sports event contracts in Ohio from 2 November 2026; that agreement included a condition that the commission refrain from enforcement while appeals were pending. Robinhood’s own contract restrictions page states:

"As of November 2, 2026, Ohio residents can't open new sports event contracts".

Gemini emailed Ohio customers on 23 October that its Gemini Titan market "will no longer offer sports-related event contracts to customers in your location" effective 6 November 2026, according to NEXTPredict. The report said positions opened prior to 6 November would be maintained until settlement and that Ohio customers retain non-sports contracts, their funds and other Gemini products.

Coinbase agreed to stop offering new contracts on 13 November 2026, according to the OCCC as reported to Legal Sports Report; the 6 November statement did not specify when Coinbase reached its agreement or what would happen to open positions. Moomoo Financial was listed among firms that "no longer offer new sports event contracts in the state", according to the same report citing the commission’s 5 November statements.

Who is resisting and what legal actions are underway

Polymarket and Underdog have filed lawsuits against the OCCC. Polymarket has also challenged Ohio’s jurisdiction with federal arguments, including a claim under the Commerce Clause. The commission remains in discussions with Novig, ProphetX and Webull; those three had not agreed to stop new contracts at the time of reporting.

Kalshi was not among the ten firms that received the 2 October letters. Kalshi continues a separate proceeding against a proposed $5,000,000 penalty in the Franklin County Court of Common Pleas.

How terms differ between firms

Agreed terms with the OCCC are not uniform: Robinhood imposed a restriction that allows existing positions to be closed but prevents new openings. Gemini keeps positions open until settlement and preserves access to non-sports products and funds. Moomoo had not published its public terms at the time of reporting. In Michigan earlier exits by Robinhood and Coinbase resulted in immediate position closures; in Ohio the commission has accepted different exit arrangements that deliver the same practical outcome: an end to new exposure to sports events.

The commission also ordered its licensed sportsbooks and suppliers to stop providing services to unlicensed platforms in Ohio, with a clarifying note that exempts brokers who block Ohio customers.

The federal factor: the CFTC interpretation

The Commodity Futures Trading Commission issued an interpretation on 5 November that generally requires markets to remove internal U.S. geographic restrictions within 30 days or explain why they cannot do so. The CFTC also asked that intermediaries avoid inadvertently blocking whole states.

That interpretation gives resisting firms — Polymarket, Underdog, Novig and ProphetX — a federal basis to argue in front of the agency and in court that state-by-state restrictions should not be applied. At the same time, an existing agreement with a state regulator may be the explanation the CFTC left open to justify a local restriction.

Ohio has halved the initial group of companies targeted by the commission without needing a court order against any of them. Whether the five remaining firms will comply or continue to resist will depend more on court rulings and the CFTC than on the administrative letters alone.