By SectorWire desk ·
The MGCB ended ties with the National Council on Problem Gambling over Kalshi’s inclusion. A Minnesota senator also urged the organisation to drop the prediction-market operator.
Kalshi’s involvement has cost the organisation support from the Michigan regulator.
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Coinbase must suspend Michigan prediction markets while Michigan withholds enforcement during compliance and related appeals.
Conflicting state and federal directions leave Kalshi facing competing obligations in Michigan.
The dispute concerns whether states can apply gambling rules to sports-event contracts offered by federally regulated exchanges.
The findings bear on state challenges to Kalshi and Polymarket's position that their contracts fall exclusively under CFTC jurisdiction.
The analysis questions Kalshi’s explanation for concentrated activity in its ether perpetual contracts.
The new contracts allow partial settlement rather than requiring players to reach the full statistical target.