Better Markets Backs Ohio Bid to Regulate Kalshi, Challenging CFTC's Role in $0 Online Betting Oversight
Updated
Updated · Better Markets · Jun 15
Better Markets Backs Ohio Bid to Regulate Kalshi, Challenging CFTC's Role in $0 Online Betting Oversight
3 articles · Updated · Better Markets · Jun 15
Summary
Better Markets filed an amicus brief backing Ohio’s authority to regulate Kalshi and other online sportsbooks, arguing federal courts should curb the CFTC’s support for those platforms.
The group said the CFTC is using taxpayer funds to promote what it calls illegal, unregulated online casinos instead of policing commodities and derivatives markets tied to essentials such as gas and groceries.
Ohio’s case centers on whether sports-event contracts marketed as prediction markets fall under federal derivatives oversight or state gambling rules designed to limit problem gambling.
Better Markets argued Congress never meant to authorize nationwide gambling through the CFTC and said the agency is too small and ill-equipped to regulate it, warning of insider trading, addiction and election-related risks.