Ohio Bill Would Ban Election Betting on Kalshi & Polymarket

Key Highlights

Sports event contracts have sparked debate across states, and now Ohio lawmakers are weighing a proposal to ban election-related trading on prediction market platforms.

Election Betting Ban & Prediction Markets

Ohio lawmakers are considering a proposal to ban betting on election results, including wagers through prediction market platforms. Democratic state Sen. Bill DeMora (D-Columbus) introduced the bill on October 13, 2026, which would classify election betting as prohibited gambling. The measure would prohibit election-related contracts on platforms such as Kalshi and Polymarket.

Betting on elections is currently only available in 18 states, including Ohio. DeMora argues that wagering on political outcomes could weaken public trust in elections, explaining “anything that is taking the reliability and people’s confidence away from election results is not a good thing, and I don’t think we should be betting on these outcomes.” He warned that wealthy bettors could donate millions to lesser-known congressional candidates to boost their chances of winning, then profit by backing those candidates in prediction markets.

Prediction markets dispute being treated like traditional sports betting. Participants trade directly with one another, rather than placing wagers against a sportsbook. That distinction is central to the legal battle over state authority to regulate prediction markets, with a recent appeals court ruling backing states’ authority to regulate sports event contracts.

Ohio Betting Totals & Election Integrity Concerns

The debate comes as Ohio’s statewide elections attract significant betting activity. By October 27, Kalshi had recorded $5.2 million in wagers on the governor’s race and $8.6 million on the Senate contest. Polymarket reported $1 million tied to the governor’s race and $1.8 million on the Senate race.

Although statewide campaigns might be harder to shift with a single donation, DeMora said local or legislative races could be more vulnerable to integrity concerns from betting. His primary concern centers on the incentives created when people can earn money from an election result. DeMora says the issue should cut across party lines.

Concerns about prediction markets have intensified following cases involving potentially misleading trades and access to non-public information. In July, former US Rep. George Santos agreed to pay $35,000 and accept a three-year trading ban to settle a federal case over wagers on whether he would attend the 2026 State of the Union address. Polymarket has also investigated dozens of election-related cases ahead of the 2026 midterms, with at least two referred to federal regulators.

Court Ruling, Regulation & Legislative Timeline

In September, the 6th U.S. Circuit Court of Appeals found that Ohio and Tennessee can subject prediction markets to state gambling regulation. Kalshi asked the court to rehear the case, citing a previous appeals court ruling in favor of the Commodity Futures Trading Commission (CFTC) against New Jersey. Ohio Gov. Mike DeWine has argued that prediction markets are actively skirting gambling laws.

DeMora has also called for tighter prediction market oversight because he says unregulated platforms cost Ohio tax revenue and licensing fees. Licensed sports betting operators pay upfront fees ranging from $50,000 to $2.5 million, depending on their license, plus yearly renewals. He fears licensed companies could move toward prediction market models to avoid these costs and taxes.

Senate Bill 479 has not yet been assigned to a committee. Lawmakers are expected to return after the November 3 election, with the Senate next scheduled to meet November 10. DeMora hopes to move quickly as legislators prepare for budget talks ahead of the June 2027 deadline for approving Ohio’s two-year spending plan.