You Have To Admit, Ohio Pretending To Ban Online Sports Betting Would Be Funny
Roundup: North Carolina governor raises sports betting tax rate and formally blesses prediction market legality alongside new tax.
I am sure a lot of you who read this newsletter wouldn’t find Ohio banning online sports betting funny at all. And to be fair, I don’t really either. Maybe “ironic” is a better word choice.
In case you are playing catch-up, from InGame:
State Reps. Johnathan Newman of Troy and Beth Lear of Galena have introduced House Bill 971, the Save Ohio Sports Act, which would end online betting in Ohio and allow legal sports betting only via in-person betting at the state’s casinos.
In addition, if the bill becomes law, Ohio bettors would face a long list of new restrictions, including a ban on prop bets and live betting; the ability to make only single-game bets, with no parlays allowed; a maximum of $100 on any one wager; no more than eight bets from any one person in a 24-hour period; and no betting on any college sports…
In a press release hyping the bill, the sponsors framed the package as a consumer protection act.
I don’t believe that any state has to legalize sports betting just because people can bet on sports in lots of ways outside of state-regulated sportsbooks. It’s a reasonable argument to make, but I also think it’s reasonable not to legalize sportsbooks.
What I do think is batshit crazy is to demolish your legal sports betting industry in today’s era while pretending that you’re banning sports betting.
Prediction markets are not going to kill state-regulated sportsbooks. But I can guarantee you this: In the absence of state-regulated sportsbooks, prediction markets will almost immediately fill that gap. Kalshi gets a huge lift in volume in states with no legal sports betting.
So sports betting is going to be in Ohio no matter what the law about sportsbooks says. You can be okay with or even supportive of that outcome! Maybe prediction markets will be better for everyone and everything in the long run. But realize:
There will still be addiction and harm from people betting on sports at prediction markets.
There are no real regulations treating prediction markets like a gambling product as we sit here.
All the sportsbooks with prediction markets (DraftKings, FanDuel and Fanatics) will 100% turn around and start offering sports event contracts in the state.
Your state will be giving up taxes when people are going to be gambling anyway.
So a bill “banning” sportsbooks feels like it would be a stupid outcome in a state that has already legalized sports betting. But if you want to pretend you’re banning it to feel better, be my guest, I guess.
With first-chair trial experience and a record of success in complex disputes across federal and state courts and in arbitrations, Kim Conroy is Ifrah’s cross-firm coach for crafting and executing complex litigation strategies. She teams up with both senior and junior lawyers to strengthen their cases with procedural insights and time-tested tactics. Kim also is called upon to assist with bet-the-company cases involving institutional and individual clients, including iGaming operators facing novel legal onslaughts.
Read More: Conroy on Unleashing Litigation’s Maximum Potential in High-Stakes Cases
Gambling news roundup
🚨 Important stuff
North Carolina Increases Sports Betting Tax Rate, Implements New Prediction Market Tax in Newly Signed Budget (Sports Betting Dime): “North Carolina Gov. Josh Stein (D) today signed his first state budget into law, officially legalizing the nearly $34 billion spending plan. With his signature, North Carolina increases its sports betting tax rate for all licensed operators, institutes a new prediction market tax, allows North Carolina gamblers to deduct losses on their taxes, and changes the disbursement of sports betting tax revenues for state colleges.”
More from me on this plus a roundup over at The Event Horizon:
Trading Cards Are the New Lottery Tickets. ‘Brother, It’s Gambling!’ (Barron’s): “Scratch-off lotto tickets at bodegas in New York City now sit next to Pokémon cards, priced at $15 a pack. A cashier at the Heavenly Market corner store on Manhattan’s 2nd Avenue says one frequent customer recently bought six packs at once. Another buyer recently ripped open a pack to find a $90 card inside.”
Big 12 commissioner Brett Yormark declines to address Brendan Sorsby gambling saga and describes league as ’16 strong’ (NBC Sports/The Associated Press): “Big 12 Commissioner Brett Yormark wanted to talk Tuesday about the league’s upcoming season, not the Brendan Sorsby gambling saga at Texas Tech that led to a lot of legal wrangling and a since-dismissed court order that had sent shockwaves through college sports.
“Even though that was the first thing Yormark was asked about after his opening remarks at Big 12 football media days.”
“I appreciate the question. I appreciate other questions that are probably going to come forth today. Today is not the time to address that issue,” Yormark answered. “Today is about celebrating the upcoming football season and celebrating our 16 schools.”
FanDuel + The Special Olympics
Sponsor’s message: FanDuel is an Official Partner of the 2026 Special Olympics USA Games, with the partnership reflecting the company’s commitment to creating more inclusive opportunities to participate in sports. To help amplify the stories of athletes as they prepared for the competition, FanDuel created a short-form content series spotlighting athletes on their journeys to the 2026 USA Games.
Check out the entire series below:
🏛️ Legislative and regulatory updates
Ohio sportsbooks unlikely to push back on regulator’s proposed credit card ban (SBC Americas): “After weeks of contemplation, the Ohio Casino Control Commission (OCCC) has officially announced its intention to ban the use of credit cards for sports betting in the state. The OCCC sent a notice on Tuesday to confirm that it has formally proposed an amendment to state law to remove credit cards as a permissible funding method.”
🔮 Prediction markets
How Kalshi infects the news (Popular Information): “In at least 22 cases, however, CNBC has written about Kalshi and not disclosed its financial conflict. In recent weeks CNBC has more frequently failed to include its Kalshi disclosure, including two pieces on June 10, one each on June 11, June 15, June 16, and June 23, three pieces on June 26, and one each on July 1, and July 2.
On air, where CNBC promotes Kalshi nearly every day, disclosure is also spotty.”
Kalshi response:
Elisabeth Diana@ediyorkI promise I sent a statement that actually made grammatical sense lol "We've always been open about our news partnerships, as have our news partners. People aren't dumb; they hear and see these disclosures and can choose to use our data as added context or choose not to."
Judd Legum @JuddLegumUPDATE: In a statement, Kalshi says that it is “open about our news partnerships, as have our news partners.” Kalshi, CNN, and CNBC have not disclosed the financial terms of their partnership. Asked for clarity, Kalshi said its deal with CNN involves “featuring our odds on Harry3:55 PM · Jul 6, 2026 · 5.69K Views1 Reply · 13 LikesCNIGA Calls on Senate Agriculture Committee to Investigate Prediction Market Platform Polymarket, CFTC Oversight After Deceptive Marketing Report (press release): The California Nations Indian Gaming Association (CNIGA) today called on the Senate Agriculture Committee to investigate prediction market platform Polymarket and examine whether the Commodity Futures Trading Commission (CFTC) has failed to enforce federal law prohibiting event contracts tied to sports wagering and other forms of gaming.
In a letter to Chairman John Boozman and Ranking Member Amy Klobuchar, CNIGA Chairman James Siva urged the Committee to investigate the practices described in recent Wall Street Journal reporting on Polymarket’s marketing of sports-event contracts, as well as the CFTC’s broader oversight of prediction market platforms that appear to be repackaging sports betting as financial trading.
“Congress has a responsibility to ensure that federal regulators are enforcing the law as written,”said CNIGA Chairman James Siva. “Prediction markets should not be permitted to circumvent state and tribal gaming laws by simply relabeling sports betting as financial trading. The Senate Agriculture Committee should investigate both the conduct of these platforms and whether the CFTC has fulfilled its statutory obligations to protect consumers, respect tribal sovereignty, and uphold the law.”
Amended New Jersey Prediction Market Bill Reduces Potential Operator Tax Rate (Sports Betting Dime): “The Senate Budget and Appropriations Committee approved an amended version of Sen. Nicholas P. Scutari’s (D-22) bill, S4447, by a 9-4 vote last week. The amended bill will require prediction market operators pay a 9% surtax on gross income from event contracts, but no longer requires a license to operate or institutes any prohibitions on types of event contracts traded in the Garden State.”
I’ll be at NEXTPredict in October; a lot of big names and smart people from the prediction markets industry will be there. Get your tickets now for 15% off using this link and promo code CLOSINGLINE15.
📣 Industry news
Redundancies coming at PokerStars amid restructuring (Next.io): “Flutter Entertainment internally announced redundancies at its PokerStars division earlier today (7 July) as part of a wider restructuring. NEXT.io has learned the global online gaming and sports betting operator will be making redundancies to its PokerStar teams worldwide as part of a wider operational restructuring of the brand.”
AGA Announces Gaming Hall of Fame Class of 2026 (press release): The American Gaming Association (AGA) today announced the Gaming Hall of Fame Class of 2026, recognizing four individuals whose careers have profoundly shaped the legal gaming industry:
Holly Gagnon, Board Member, Bragg Gaming Group
Bill G. Lance, Jr., Secretary of State, Chickasaw Nation
Scott Olive, Principal & Founder, HRG Studios
Timothy J. “Tim” Wilmott, Retired Chief Executive Officer, PENN Entertainment
“The Gaming Hall of Fame recognizes the individuals whose vision, innovation, and dedication have helped shape today’s legal gaming industry,” said AGA President and CEO Bill Miller. “Holly, Bill, Scott, and Tim have each left a lasting mark through decades of service and leadership. Their contributions have set a high standard for those who follow.”
“This year’s inductees reflect the remarkable breadth of the gaming industry – from commercial and tribal gaming operators to suppliers,” said AGA Chairman Lou Jacobs. “Each of them has helped advance gaming in significant ways, and we’re proud to welcome them to the Gaming Hall of Fame.
Since 1989, the Gaming Hall of Fame has celebrated the achievements of industry legends who have driven the commercial and tribal gaming industry forward. The Class of 2026 will be formally inducted at an invitation-only ceremony during the Global Gaming Expo (G2E) in Las Vegas this fall.
Indictment against ex-college hoops star contains wire fraud charges, but none on point shaving (iGB): “Kerr Kriisa, a former University of West Virginia guard, has been charged with five counts of wire fraud stemming from a $2.2 million fraudulent scheme, according to an indictment unsealed on Monday in the US District Court for the Northern District of West Virginia.”
📚 Everything else you should know/read
Arnold Ventures Announces 12 New Research Grants to Advance Evidence on the Impacts of Sports Betting (press release): Arnold Ventures today announced 12 new research grants to support rigorous, independent analysis of the rapidly expanding sports betting landscape in the United States.
These projects — which examine the impacts of gambling on financial well-being, household formation, mental health, consumer behavior, and more — will help policymakers better understand how the rise of online sports betting has impacted their constituents. Some of the research will also explore steps policymakers and other institutions can take to reduce harm.
“Just a few years ago, most Americans had to travel significant distances to legally gamble on sports. Today, access to gambling has become so widespread that, in most of the country, anyone with a smartphone could effectively have a casino in their pocket,” said Justin Milner, Arnold Ventures’ Executive Vice President of Evidence & Evaluation. “These research projects will shed light on the impacts of this new reality and help policymakers weigh important decisions about whether to legalize gambling, how to regulate it, and how to effectively reduce harm for their constituents.”
Approximately $2.6 million has been awarded to support the following research…"
A footballing deepfake: how Bruno Fernandes fell victim to an unlicensed betting operator (The Guardian): “In a significant development, the illegal online casinos Nightwin and QH88 have hijacked the identity of two of the world’s most famous players, Real Madrid’s Jude Bellingham and Manchester United’s Bruno Fernandes, to present them as official partners of their brands, using fake news articles, photographs and AI-generated video to fool their customers into believing that the stars’ endorsement was legitimate.”
Caesars Sportsbook on USA-Belgium at World Cup: “USA vs. Belgium set a new Caesars Sportsbook record for unique customers wagering on a soccer event, surpassing the mark established just a day earlier during England vs. Mexico. Despite Belgium controlling the match for long stretches, fans remained highly engaged and delivered one last record for Team USA before its tournament run came to an end. With many more elite matchups still to come, we wouldn’t be surprised to see more soccer wagering records challenged at Caesars Sportsbook.”