Michigan Blocks Predictions Markets Platform Kalshi From Offering Sports Bets in the State

Michigan Blocks Predictions Markets Platform Kalshi From Offering Sports Bets in the State

A Michigan judge has issued a preliminary injunction requiring KalshiEx to halt sports betting offers to state residents and implement geofencing, with steep daily penalties for violations.

Kalshi faces $500,000 daily fines as Michigan forces sports event contracts offline

The Kalshi Michigan injunction imposes a $500,000 daily geofencing penalty and FCM notice duty as federal appeals courts split on preemption.

Kalshi Blocks Its Own Supreme Court Markets as Michigan Threatens $500K Daily Fine

Kalshi won’t let users bet on its own legal fate. The prediction market platform has quietly blocked any wagering on… Read the original on Kalshi Halts Betting on Its Supreme Court Fate Amid $500K Fine Threat from Michigan. For more crypto news and analysis, visit TheCurrencyAnalytics.com.

Michigan court blocks Kalshi sports markets

A Michigan court has ordered prediction market operator Kalshi to stop offering sports betting markets in the state, with penalties of up to $500,000 per day for non-compliance. The Ingham County Circuit Court Judge Rosemarie E. Aquilina gave the preliminary injunction based on the lawsuit filed by the Michigan Attorney General Dana Nessel, who claimed that Kalshi has been operating illegal sports betting markets. The rule extends a temporary re…

Michigan Still Pursues Kalshi Ban as Supreme Court Case Nears

Michigan has escalated its efforts to rein in Kalshi, a prediction markets platform, by securing a preliminary injunction that blocks the company from offering event contracts to residents. The state’s attorney general said the order is meant to stop what officials described as “sports betting” operating under the guise of an investment product. In a notice dated Wednesday, Michigan Attorney General Dana Nessel said the Circuit Court for the 30t…