By SectorWire desk ·
A Michigan judge ordered Kalshi to stop offering sports contracts and geoblock the state. The outlet also reported a unanimous Ninth Circuit ruling against Kalshi and New Jersey’s petition asking the Supreme Court to decide whether sports event contracts are legal.
Kalshi faces a Michigan sports contract ban and geoblocking order, alongside an adverse Ninth Circuit ruling.
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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.
The denial challenges Kalshi’s account of a tribal partnership.