Kalshi faces $500,000 daily fines as Michigan forces sports event contracts offline
The preliminary injunction lasts until final order, adds a futures broker notice duty and lands amid an appellate split. The post Kalshi faces $500,000 daily fines as Michigan forces sports event contracts offline…
A Michigan judge has placed prediction-market exchange Kalshi under a preliminary injunction that keeps its sports event contracts fenced off from people in the state until the court issues a final order. The ruling moves the dispute beyond a short-term restraint and into an open-ended compliance regime. Kalshi calls the products federally regulated event contracts, while Michigan treats the covered sports products as internet sports betting subject to state licensing. That classification fight explains why the order is more than routine sportsbook enforcement and why its reach is contested.…
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