Robinhood, Coinbase, Gemini and Moomoo Agree to Halt Ohio Sports Event Contracts

Robinhood, Coinbase, Gemini and Moomoo Financial have agreed to stop offering sports event contracts in Ohio, the Ohio Casino Control Commission (OCCC) reported in early November 2026, following its cease-and-desist campaign against prediction market operators and brokers.

The OCCC is the state regulator for casinos, sports gaming and related activity. According to Prediction News, it named the four firms as having agreed to withdraw. Gambling Insider reports they join Plus500US, which complied earlier. The OCCC also told Legal Sports Report that Robinhood, Gemini and Moomoo have "already stopped offering new sports event contracts." Coinbase is described as having agreed to stop.

What the four firms have agreed to

The four firms have committed to end Ohio sports event contracts, which are contracts that pay out on the result of a sporting event and are sold through prediction market platforms and brokerage apps. Three of them have already stopped offering new contracts, per the OCCC statement to Legal Sports Report. Coinbase has agreed but is not named among those that have already stopped.

Robinhood has a long regulatory history with Ohio. Gamingo covered its push into US sports betting in 2024, and the company was among the recipients of OCCC letters in March 2025, along with Kalshi and Crypto.com, according to Legal Sports Report. Kalshi then sued the state.

How the October orders came about

Ohio's enforcement push rests on a federal appeals ruling. On 25 September 2026 the US Court of Appeals for the Sixth Circuit held that Ohio can enforce its gambling laws against sports event contracts, a loss for Kalshi, per Legal Sports Report.

Seven days after that ruling, on 2 October 2026, the OCCC sent cease-and-desist orders to 10 companies. The recipients were Coinbase, Gemini Titan, Moomoo Financial, Novig, Plus500US, Polymarket, ProphetX, Robinhood Derivatives, Underdog Predict and Webull Financial. Covers confirms the 2 October date. Kalshi was not on the list because it was already in litigation with the state, according to iGaming Express.

The 2 October letter to Robinhood reasserted its March 2025 order rather than opening a new matter. Per Legal Sports Report, it went by email to the company's outside counsel.

Penalties and pressure on licensees

OCCC Interim Executive Director Andromeda Morrison said the commission "expects these entities to cease their illegal gambling activity in Ohio immediately," according to Legal Sports Report. The orders demanded written notice within 14 days.

The commission warned of administrative, civil, nuisance or criminal action. Offering unlicensed sports gaming is a felony in Ohio. The OCCC says it can seek a civil penalty equal to the money each company obtained from Ohioans through sports event contracts, and it may pursue officers, directors and parent companies.

The regulator has also leaned on its own license holders. Its 20 October letter warned that supporting unlicensed prediction markets could put a license at risk, as Gamingo reported in Ohio's licensee warning. Gambling.com gave 30 October as the deadline for licensees to cut ties.

What it means for the wider prediction market fight

Ohio now has a growing list of firms that have withdrawn, while Polymarket is contesting the state's position in court, per Prediction News. Operators elsewhere are fighting on different terms. Kalshi has taken its case to federal court in Louisiana, and a judge in Illinois entered a preliminary injunction against state licensing and tax rules for event contracts.

Ohio has the Sixth Circuit's ruling behind it, and the withdrawals suggest brokers with consumer-facing apps are choosing to comply rather than test the state's felony and civil-penalty exposure. Firms that remain in the market face the penalty framework described above. Licensed Ohio operators face their own compliance deadline.

Status reviewed on 8 November 2026. Figures on the cease-and-desist orders come from Legal Sports Report and Covers, and the compliance details from Prediction News and Gambling Insider. More regulation news and North America coverage.