Nessel Wins Injunction Against Kalshi as Prediction Market Says Michigan Lacks Regulatory Authority
The order follows a state lawsuit alleging Kalshi operated without approval, and it requires geolocation checks to block trades from residents under 21.
- On Tuesday, Judge Rosemarie Aquilina of the 30th Judicial Circuit Court of Ingham County granted a preliminary injunction barring Kalshi from offering sports betting services to Michigan residents.
- Attorney General Dana Nessel filed suit in March, alleging Kalshi operates in violation of the Lawful Sports Betting Act and lacks licensing from the Michigan Gaming Control Board.
- Judge Aquilina characterized Kalshi as 'a sports betting operation masquerading as an investment opportunity,' citing risks to Michigan residents ages 18 to 20 ineligible for legal sports betting.
- Kalshi Attorney Andrew Porter argued the company falls under exclusive Commodity Futures Trading Commission jurisdiction, questioning why competitors like Polymarket, Crypto, Robinhood and Coinbase remain active in Michigan.
- Elisabeth Diana, Kalshi's head of communications, vowed to fight the decision in court, while Attorney General Nessel stated the state will not be bullied by interests prioritizing monopolies over consumer protection.
16 Articles
16 Articles
Cointelegraph
BITRSSMichigan Authorities Continue Pursuit to Block Kalshi as Supreme Court Fight Looms
Prediction markets platform Kalshi could be fined up to $500,000 per day for violating a court order blocking the company from offering sports bets to Michigan residents.
iosconews.com
Michigan AdvanceNessel wins injunction against Kalshi as prediction market says Michigan lacks regulatory authority
In her lawsuit against the prediction market Kalshi, Michigan’s Attorney General has secured another block barring the company from offering sports betting services in the state of Michigan. Attorney General Dana Nessel first filed suit against the company in March,…
Kalshi faces $500,000 daily fine under Michigan court injunction
A Michigan court has ordered Kalshi to keep sports event contracts unavailable in the state under a preliminary injunction that carries fines of $500,000 per day for violations. The Michigan Attorney General’s Office said Wednesday that Ingham County Circuit Court…
Michigan escalates Kalshi fight as Supreme Court battle nears
A Michigan judge has instructed prediction market company Kalshi to remove from the state any sports event-based contract, imposing a penalty of up to $500,000 per day for noncompliance, increasing the pressure on a company facing legal challenges from over a dozen states. Ingham County Circuit Court Judge Rosemarie E. Aquilina signed the temporary restraining...
Michigan Continues Legal Fight to Block Kalshi Ahead of Supreme Court Ruling
Michigan’s attorney general says a state court has issued a preliminary injunction against Kalshi, preventing the prediction markets platform from offering event contracts to residents. The order, announced by Attorney General Dana Nessel this week, is framed by officials as an effort to curb what they describe as unlicensed “sports betting” conducted under an investment-like [...]
Michigan AG secures injunction against Kalshi's sports contracts
Michigan Attorney General Dana Nessel has secured a preliminary injunction against Kalshi, barring the prediction market company from offering sports contracts in Michigan. The order requires Kalshi to maintain geofencing that prevents Michigan residents and anyone within the state from accessing its sports contracts. Violating the order could result in a $500,000 daily fine. “Kalshi long attempted...
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