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Michigan Court Orders Kalshi to Continue Blocking Sports Prediction Markets, Citing Violations of State Betting Law
A Michigan state court has issued a preliminary injunction requiring prediction markets platform Kalshi to continue blocking state residents from accessing sports-related event contracts. The order, issued on Tuesday, converts a temporary restraining order from June and mandates Kalshi to use a state-licensed third-party geolocation provider. Violations would result in a fine of $500,000 per day. Michigan Attorney General Dana Nessel stated the order further protects residents from Kalshi's “predatory, unlicensed practices,” arguing the company enabled sports betting under the guise of event contracts.
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