Ohio legislators have introduced a bill that would require prediction market platforms offering sports event contracts to obtain a state license and pay taxes in line with existing regulated sports betting operators.
The legislation would apply to any platform offering contracts tied to sporting outcomes in the Buckeye State to secure approval from the Ohio Casino Control Commission before accepting customers in the state.
It would classify these contracts as sports gaming when provided to Ohio residents. In addition, operators would be subject to Ohio’s existing sports gaming tax and the same regulatory requirements that apply to licensed sportsbooks.
The legislation, Senate Bill 430, was introduced by Ohio Sen. Bill DeMora.
