Michigan judge bans Kalshi prediction markets for sports betting and threatens $500K daily fines.
Regulation & Gov ·
Ingham County Circuit Judge Rosemarie Aquilina issued a preliminary injunction against Kalshi on Tuesday, ordering the prediction market platform to stop offering sports wagers in Michigan and to implement geofencing through a Michigan Gaming Control Board-licensed provider or face $500,000 daily fines. The order bars Kalshi from accepting deposits, advertising, or allowing account creation by Michigan residents, covering products functionally similar to sports betting such as parlays and proposition bets. Judge Aquilina characterized Kalshi's operation as a "sports betting operation masquerading as an investment opportunity" that circumvents Michigan's regulatory framework and harms vulnerable residents, schools, and tribal revenue.