Feed / Enforcement & compliance
By SectorWire desk ·
Michigan Attorney General Dana Nessel has obtained a preliminary injunction against Kalshi. The order prevents Kalshi from providing sports betting contracts to people in Michigan.
The preliminary injunction bars Kalshi from providing sports betting contracts to people in Michigan.
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Kalshi must exclude Michigan residents from online sports wagering or face financial penalties while the preliminary injunction remains effective.
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.
The dispute could affect whether prediction market operators face state gambling laws alongside federal oversight.