This Online Gambling Giant Fined Rp 85 Billion
Jakarta, CNBC Indonesia - The online prediction market giant Kalshi has been hit with a hefty fine by a United States regulator. The Ohio Casino Control Commission has imposed a sanction of US$5 million, or approximately Rp 85 billion, because the company is deemed to have operated illegal sports gambling in the state.
The fine was announced on 14 April against KalshiEX LLC. The regulator states that the platform has been operating sports betting services without an official licence in Ohio since January 2025.
The Commission emphasised that the decision to impose the fine was made after Kalshi refused to halt its operations. The regulator also deemed the action necessary to maintain the integrity of the sports gambling industry in Ohio.
“The Commission takes its regulatory responsibilities seriously to ensure compliance with the law and the integrity of sports gambling in Ohio,” the regulator stated, quoted from the Columbus Dispatch on Thursday (16/4/2026).
The company itself expressed disappointment with the decision and affirmed that it is still involved in a legal dispute with Ohio authorities. They also claim to have the right to operate as a federally licensed exchange.
The Kalshi platform was founded in 2018 by two MIT students and allows users to trade outcomes of various events, from sports and elections to current issues. The regulator assesses this business model as similar to traditional sports betting.
The Commission noted that more than 35,000 Ohio residents have used the platform. Users place bets on yes or no outcomes and profit if their predictions are correct.
According to the regulator, by continuing to operate without a licence, Kalshi is obstructing the process of assessing the company’s suitability as well as compliance with mandatory consumer protection rules under Ohio law.
This dispute has already reached the courts. In March, a federal judge in Ohio sided with the regulator after Kalshi sued to stop oversight of its operations.
Ohio Attorney General Dave Yost even reaffirmed the state government’s position. He stated that Kalshi’s prediction markets constitute illegal gambling and that the US$5 million fine has been imposed.
“I won’t bet on how long Kalshi will operate in Ohio,” Yost said in a social media post.