Ohio regulator sends Robinhood Derivatives cease-and-desist over sports event contracts

The Ohio Casino Control Commission sent cease-and-desist letters to 10 prediction-market operators and brokers, including Robinhood Derivatives, over sports event contracts. The letters followed a September 25, 2026 Sixth Circuit ruling that Ohio can enforce its gambling laws against these contracts. Recipients have until October 16, 2026 to confirm in writing that they have stopped serving Ohio customers, and the commission warned of civil penalties tied to any gains.

• Letters went to 10 operators, including Robinhood Derivatives, Coinbase, Polymarket and Webull Financial
• Sixth Circuit ruled September 25, 2026 that Ohio can enforce its gambling laws against these contracts
• Compliance confirmation due in about 14 days, by October 16, 2026
• Penalties could equal money or property made from sports event contracts in Ohio