A Michigan circuit court judge granted a temporary restraining order against prediction market platform Kalshi, prohibiting it from offering sports event prediction trading to Michigan residents and requiring integration of licensed geolocation services, with a daily fine of $120,000 for non-compliance. This represents a significant regulatory move against prediction markets in sports betting.
Event Details
According to Reuters, Judge Rosemarie Aquilina of the Ingham County Circuit Court in Michigan granted a temporary restraining order against prediction market platform Kalshi, filed by State Attorney General Dana Nessel. The order prohibits Kalshi from offering sports event prediction trading to Michigan residents and requires it to integrate a third-party geolocation service licensed by the state gaming control board. Failure to comply will result in a daily fine of $120,000. This marks a significant regulatory crackdown on prediction markets entering sports betting.
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