Michigan court issues injunction forcing Kalshi to block sports prediction markets, with $500,000 daily fines for violations.
Regulation & Gov ·
A Michigan court has issued an injunction requiring Kalshi to maintain restrictions on sports prediction markets, converting an earlier temporary restraining order from June. Violations of the order carry a penalty of $500,000 per day.
The injunction represents an escalation of enforcement against the prediction market platform in the state. The order builds on a temporary restraining order that had been in place since June, making the restriction permanent unless modified by further court action.
The underlying legal basis for the injunction and whether Kalshi plans to challenge the order remain unclear. It is also unknown whether other prediction market platforms face similar restrictions in Michigan or whether the court's action may influence regulatory approaches in other jurisdictions.