The Gambling Wire: Ohio Warns Gaming Licensees Over Prediction Market Ties

Ohio warns gaming licensees that supporting prediction markets could jeopardize their licenses. Meanwhile, FanDuel unveils a VIP prediction-market trial amid congressional scrutiny.

Ohio’s fight with prediction markets has expanded to licensed gaming operators and suppliers, with the Ohio Casino Control Commission (OCCC) warning them that providing services to unlicensed operators could jeopardize their licenses. The latest notice follows the expiration of a cease-and-desist deadline for 10 prediction market companies.

Meanwhile, FanDuel has defended its controversial VIP program in another response to lawmakers; PrizePicks officially entered the booming digital collectibles market; and Las Vegas Sands (LVS) reported weaker third-quarter earnings.

The Big Story: Ohio Warns Gaming Licensees Against Supporting Prediction Markets

The OCCC has warned licensed operators and suppliers that involvement in prediction markets could put their licenses at risk, including denial, nonrenewal, suspension or revocation.

In an October 20 letter, the commission said it was “deeply concerned” about reports that some licensees continue to provide services to companies offering sports event contracts in Ohio without a state sports gaming license.

“The continued facilitation or support of illegal gambling activity, or the affiliation with illegal operators, by a Commission licensee raises significant suitability concerns,” the letter states.

The services identified include market making, liquidity provision, integrity monitoring, data security and other technology-related support.

The OCCC has ordered licensees to immediately cease supporting prediction market platforms that offer sports event contracts. They must confirm compliance by October 30.

The warning could affect major Ohio-licensed sportsbooks such as DraftKings, FanDuel and Fanatics. Suppliers and integrity monitors, including Genius Sports, Sportradar and IC360, which have established relationships with prediction market operators, could also be affected.

The letter references the Sixth Circuit’s September ruling that sports event contracts are not “swaps” and that federal law does not preempt Ohio’s gambling laws. Following that ruling, the OCCC issued cease-and-desist notices to 10 prediction market operators on October 2. The regulator directed them to stop offering sports contracts by October 16.

That deadline has now passed, and the regulator said it “intends to take action against those companies who failed to comply with the terms of the cease and desist notice.” Earlier this week, Polymarket sued Ohio, challenging its sports betting laws.

The Daily Wire

FanDuel Defends VIP Videos, Reveals Prediction Market VIP Trial

FanDuel has responded to the growing scrutiny from federal lawmakers over its VIP program, defending the personalized celebrity videos it sent to high-value customers. The company also revealed a separate VIP trial on its prediction market platform.

In an October 20 letter to Sen. Richard Blumenthal and Reps. Valerie Foushee and Paul Tonko, FanDuel executive Cory Fox confirmed that approximately 30 Cameo videos featuring athletes or entertainers were sent to VIP customers over a two-year period.

Fox denied that the videos were intended to induce continued gambling. He said the VIP program aims “to provide enhanced service and encourage customers who choose to wager to use FanDuel rather than another platform.”

FanDuel also did not provide the individual wagering histories and responsible gaming records requested by lawmakers, citing its obligations to protect customers’ personal and financial information.

Separately, FanDuel revealed that FanDuel Predicts launched a 90-day VIP trial on September 15, offering enhanced service and benefits to fewer than 60 customers. The company said the trial has not included personalized celebrity videos and has no plans to do so.

PrizePicks Reveals $8 Million Cooper Flagg Card in Packs Launch

Following an initial rollout last week, PrizePicks has formally launched PrizePicks Packs nationwide, revealing a collection of high-value trading cards headlined by an $8.04 million Cooper Flagg rookie card.

The card, which features a patch from Flagg’s NBA debut jersey, sold for a basketball card record of more than $8 million at a September auction. According to Barron’s, PrizePicks acquired it from a third party following the sale.

The expansion comes amid growing questions about whether digital rips, which offer randomized prizes with real-world monetary value, resemble gambling.

PrizePicks Chief Legal Officer Jason Barclay told Barron’s that the company consulted regulators and sent a briefing to every state attorney general on its plans to proactively address any concerns of gambling.

“This is much more like an e-commerce transaction than it is a form of gambling,” Barclay said. He compared it to the longstanding tradition of opening a physical pack of baseball cards.

Nevertheless, PrizePicks has incorporated responsible gaming-style safeguards, including deposit limits, self-exclusion and access to behavioral health services, and emphasized them in its press release.

DraftKings Branding Reportedly Coming to CBS Election Coverage

DraftKings has reportedly secured a sponsorship arrangement that will bring its branding to CBS-owned television stations during coverage of the November midterm elections. According to Status, the deal has prompted internal concerns among some CBS station executives over the association between election reporting and a sports gambling company.

The reported arrangement comes as CBS News has already partnered with Kalshi, naming it as CBS’ official prediction market sponsor. The news organization said it would incorporate Kalshi data into its election coverage alongside traditional polling and election results.

The precise scope of the DraftKings sponsorship remains unclear. However, concerns about conflicts of interest, such as coverage of Nebraska’s sports betting referendum, have also surfaced online.

Las Vegas Sands Reports Lower Q3 Earnings as High-End Demand Softens

LVS reported third-quarter revenue of $3.22 billion, down from $3.33 billion a year earlier, while net income declined from $491 million to $352 million.

Consolidated adjusted property EBITDA fell to $1.12 billion from $1.34 billion, reflecting softer results across its Singapore and Macao properties. LVS also reported adjusted EPS of $0.54 against analyst expectations of approximately $0.73.

During the earnings call, Chairman and CEO Patrick Dumont said reduced visitation by high-value customers had affected both markets.

Despite Dumont describing Singapore’s results as “solid financial performance,” Marina Bay Sands generated $590 million in adjusted property EBITDA, compared with $743 million in 2025. Meanwhile, Macao operations reported EBITDA of $529 million, down from $601 million.

Dumont described the weakness as unusual and maintained confidence in both markets’ long-term prospects. Sands China also reported its highest share of Macao mass gaming revenue since the fourth quarter of 2023, at 26.1%.

Despite the earnings decline, LVS repurchased $950 million in shares during the quarter. The company also announced a 20% increase in its quarterly dividend beginning in 2027.

Following the earnings miss, LVS stock fell approximately 4%.

High Roller Launches ROLR Prediction Market Platform

Another platform has officially entered the prediction market space as High Roller Technologies announced the official launch of ROLR.

The launch comes after ROLR became a member of the National Futures Association and registered as an introducing broker in June. The platform offers event contracts using Crypto.com’s infrastructure.

CEO Seth Young described the launch as a defining milestone for the company’s expansion into prediction markets.

In an interview with Gambling Insider, Young called prediction markets the biggest opportunity of his career. He argued that even a small share of the emerging industry could translate into substantial revenue.

Ohio Bans Bettor Accused of Threatening Blue Jays Manager

The OCCC has banned a sports bettor accused of threatening Toronto Blue Jays manager John Schneider during the 2025 World Series.

The regulator added Blake Morgan of Thornville, Ohio, to its Involuntary Exclusion List over alleged threats made during a call to MLB customer service after Game 3 of the series against the Los Angeles Dodgers. Morgan had called to complain about a video of Schneider discussing how he would pitch to Shohei Ohtani.

The case highlights growing concerns over harassment and threats directed at athletes, coaches and other sports personnel over gambling-related grievances. Last month, MLB, NFL, MLS, NBA and the NHL, along with their players’ associations sent a letter to gambling regulators in 35 states and Washington, D.C., urging them to permanently ban bettors who harass athletes and staff.

The post The Gambling Wire: Ohio Warns Gaming Licensees Over Prediction Market Ties appeared first on Gambling Insider.