Michigan authorities continue pursuit to block Kalshi as Supreme Court fight looms
Michigan’s attorney general said a state court issued a preliminary injunction blocking Kalshi from offering event contracts to Michigan residents, with potential fines of up to $500,000 per day for violations. The order follows a June restraining order and stems from a lawsuit alleging Kalshi is offering illegal sports betting under the guise of prediction markets. The case is part of a broader fight between prediction market platforms and state regulators over whether these products fall under state gambling laws or federal CFTC oversight. Kalshi had previously been told by the CFTC not to comply with the state order, creating a conflict. The same day, New Jersey asked the US Supreme Court to hear its own case against Kalshi, seeking clarity on who has jurisdiction.
