Michigan Judge Orders Kalshi to Halt Sports Betting Operations
A Michigan judge has issued an injunction against prediction market platform Kalshi, ordering it to stop offering sports wagers in the state and face a $500,000 daily fine for non-compliance. The ruling by Ingham County Circuit Judge Rosemarie Aquilina states that Kalshi's operations violate Michigan law by allowing residents under 21 to bet on sports events through what is described as an investment framework. The judge criticized Kalshi for circumventing state regulations, undermining school funding and public services related to gambling prevention. The injunction prohibits the company from accepting deposits or advertising within Michigan using various digital channels. Compliance requires Kalshi to use a geolocation provider licensed by the Michigan Gaming Control Board. Attorney General Dana Nessel had sued in March under the Lawful Sports Betting Act. Kalshi has faced similar legal challenges elsewhere, including an August order from Washington state and ongoing litigation with the Commodity Futures Trading Commission (CFTC). The case remains active as it awaits a final judgment.
Topics: compliance futures_trading legal_injunction sports_betting