Updated
Updated · Detroit News · Jun 29
Michigan Judge Orders Kalshi to Halt Sports-Like Wagers for 14 Days or Face $120,000 Fines
Updated
Updated · Detroit News · Jun 29

Michigan Judge Orders Kalshi to Halt Sports-Like Wagers for 14 Days or Face $120,000 Fines

3 articles · Updated · Detroit News · Jun 29

Summary

  • A Michigan court temporarily barred Kalshi from offering or advertising sports-like event contracts in the state through July 13, with geolocation controls required to block Michigan users.
  • Judge Rosemarie Aquilina said Kalshi failed to comply with state gaming laws, giving it a “massive and unfair advantage” over licensed online sportsbooks and casinos overseen by Michigan regulators.
  • The restraining order came after Attorney General Dana Nessel sued in March, arguing Kalshi was effectively running online sports betting without a Michigan Gaming Control Board license.
  • Kalshi said it was already implementing restrictions and plans to fight the order, arguing its prediction-market business falls under exclusive federal jurisdiction rather than state gambling law.

Insights

Who will win the regulatory war over prediction markets: state governments or federal agencies?
When does a financial prediction officially cross the line into illegal sports betting?