A Michigan judge on Monday blocked prediction market operator Kalshi from continuing to allow people in the state to place financial bets on sporting events after the state’s attorney general accused it of violating state gaming law.
Ingham County Circuit Court Judge Rosemarie Aquilina issued a temporary restraining order at the behest of Michigan Attorney General Dana Nessel, a Democrat. The judge said she would fine Kalshi $120,000 for each day it does not comply with the geolocation requirements her order imposes.
The order makes Michigan the second state to implement a court-ordered ban on Kalshi offering events contracts, following Nevada. A similar injunction in Massachusetts has been put on hold while Kalshi pursues an appeal….