SiaPredict DailyOctober 17, 2026
Top line
Missouri became the latest state to face a federal preemption suit from prediction market operators, as Novig and Crypto.com filed on Friday. There is also more fallout from the Sixth Circuit’s ruling, where Ohio, Tennessee and Michigan are now enforcing against operators directly. Operators outside Kalshi should plan for a state-by-state posture rather than a single federal answer.
Today's top 4
- 1Regulatory
Novig and Crypto.com sue Missouri over sports event contract cease-and-desist orders
Novig and Crypto.com filed separate federal suits on October 16, Novig in the Eastern District of Missouri and Crypto.com in the Western District, challenging cease-and-desist orders issued by the Missouri Attorney General's office in September. Novig argues the CFTC has exclusive jurisdiction over the transactions. Recipients were told to stop offering sports event contracts in Missouri or apply for a license from the Missouri Gaming Commission.
Covers.com - 2RegulatoryCatch-up
Underdog sues Tennessee after cease-and-desist letter threatens its fantasy sports license
Underdog Exchange DCM and UDM (Underdog Predict) sued Tennessee officials in the Middle District of Tennessee on October 13, seeking a permanent injunction and a declaration that enforcement violates the Supremacy Clause. An October 9 letter from the Tennessee Sports Wagering Council warned of penalties and possible revocation of an affiliated company's fantasy sports license. Operators with licensed affiliates should assess that cross-business exposure.
Sportsbook Review - 3RegulatoryCatch-up
Ohio's deadline for 10 prediction market operators to stop sports contracts passes
The Ohio Casino Control Commission set October 16 as the deadline for ten operators, including Polymarket, Coinbase, Robinhood and Webull, to stop offering sports event contracts, citing the Sixth Circuit ruling that the Commodity Exchange Act does not preempt Ohio's gambling laws. The notices warn of administrative, civil, nuisance or criminal action. Kalshi did not receive a notice, which the source attributes to its ongoing litigation with the state.
Sports Betting Dime - 4RegulatoryCatch-up
Coinbase agrees to halt new Michigan sports event contracts under state stipulation
The Michigan Gaming Control Board announced on October 7 that Coinbase Financial Markets would stop offering new sports-related event contracts to Michigan customers by October 10. The state agreed to withhold enforcement while related appeals proceed and Coinbase stays in compliance. Robinhood reached a similar stipulation in September, which makes the negotiated standstill a repeatable template.
Gaming.net