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Michigan court orders Kalshi to keep blocking sports prediction markets
The preliminary injunction requires Kalshi to use a third party geolocation provider licensed by the state gaming regulator, with violations subject to $500,000 per day fines.
A Michigan state court has issued a preliminary injunction requiring prediction markets platform Kalshi to continue blocking state residents from accessing sports related event contracts, according to The Block.
The order, issued by Ingham County Circuit Court Judge Rosemarie E. Aquilina and attributed to a Wednesday statement from Michigan Attorney General Dana Nessel, keeps the restriction in place until a final ruling is issued in the case.
The injunction also requires Kalshi to comply with geofencing specifications by using a third party geolocation services provider licensed by the state's gaming regulator. The filing warns that any violation could trigger fines of $500,000 per day.
The Block reports the preliminary injunction converted an earlier temporary restraining order from June, and notes Kalshi attempted to move the dispute to federal court but the Western District of Michigan remanded the lawsuit back to state court. The outlet also points to ongoing enforcement efforts, saying more than a dozen states have taken action or filed lawsuits against Kalshi, and that Kalshi recorded $38.67 billion in trading volume in August, versus a combined $8.41 billion for others in the sector.