Michigan judge allows state regulators to pursue action against Polymarket
A federal judge in Michigan denied Polymarket's request for a preliminary injunction that would have blocked state regulators from applying gambling laws to its operations. Judge Paul L. Maloney rejected the company's argument that its sports event contracts fall under exclusive federal oversight as financial derivatives; Polymarket had maintained that the CFTC had jurisdiction.
The ruling allows Michigan regulators to continue applying state gambling laws to Polymarket's sports-related event contracts.