COLUMBUS, Ohio (AVC News) — The Ohio Casino Control Commission has issued cease-and-desist notices to 10 entities accused of illegally offering sports-related “event contracts” to Ohio residents.
The commission said the contracts meet the definition of sports gaming under Ohio law and therefore require a state license to be legally offered. The action follows a Sept. 25 ruling by a three-judge panel of the U.S. Court of Appeals for the Sixth Circuit, which rejected arguments that sports event contracts fall under the exclusive jurisdiction of the federal Commodity Futures Trading Commission.
The court also determined that the contracts are not “swaps” under federal law and that federal law does not prevent states from enforcing their gambling laws. The commission said the ruling makes the sports event contracts subject to Ohio’s gambling regulations.
The cease-and-desist notices require the 10 entities to stop offering, participating in offering or facilitating sports event contracts in Ohio. Each entity must notify the commission in writing that it has complied with the order by Oct. 16.
The full version of the letters can be found here.
