Close Menu
    Facebook X (Twitter) Instagram
    Friday, September 4
    X (Twitter) Instagram LinkedIn YouTube
    Chain Tech Daily
    Banner
    • Altcoins
    • Bitcoin
    • Crypto
    • Coinbase
    • Litecoin
    • Ethereum
    • Blockchain
    • Lithosphere News Releases
    Chain Tech Daily
    You are at:Home » Michigan Blocks Predictions Markets Platform Kalshi From Offering Sports Bets in the State
    Altcoins

    Michigan Blocks Predictions Markets Platform Kalshi From Offering Sports Bets in the State

    Benjamin LeeBy Benjamin LeeSeptember 4, 2026No Comments2 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email


    A Michigan court is barring a prediction market platform from offering sports wagers to state residents or risk massive daily fines for failing to block access.

    The order requires KalshiEx, LLC to maintain geofencing using a state-licensed third-party provider, with violations triggering a $500,000 daily fine.

    The injunction prohibits offering, facilitating, advertising, or processing any internet sports betting contracts to anyone in Michigan, including users aged 18 and older.

    Michigan Attorney General Dana Nessel secured the ruling after filing suit in March 2026 alleging unlicensed sports betting under the Lawful Sports Betting Act.

    A temporary restraining order was already in place from June 2026 following remand from federal court.

    The court cited risks to youth, mental health protections, unfair competition with licensed operators, and lost revenue for schools, tribes, and public services as reasons for the ban.

    Attorney General Nessel is highlighting the platform’s efforts to appear legitimate.

    “Kalshi long attempted to pass itself off as a legitimate gaming operation in our state, and I am relieved that this order further protects Michigan residents from its predatory, unlicensed practices. My office will continue to defend Michiganders and enforce our gaming laws, which ensure gambling revenue is regulated and distributed back into our communities.”

    The court order says Kalshi’s operations are causing harm to Michiganders.

    “Michigan and its most vulnerable citizens are suffering and will continue to suffer immediate and irreparable harm absent relief from being exploited by Kalshi’s sports betting operation masquerading as an investment opportunity.”



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleXRP rebounded strongly by 9.4%; earn $4,000 in passive income daily through ASDeFi
    Next Article Trump-backed World Liberty Financial stumbles at launch, website goes offline
    Benjamin Lee

    Related Posts

    Grayscale Research Is Warning of AI-Driven Surveillance Risks on Transparent Blockchains, Says Zcash Will Be Part of the Solution

    September 2, 2026

    Bank of America, Wells Fargo, Citi and Goldman Join 21-Firm Plan to Launch Stablecoin

    September 1, 2026

    Crypto Platforms Suffer $3,630,000,000 in Crypto Losses as Audited Platforms Suffer Heavily: Report

    August 31, 2026
    Leave A Reply Cancel Reply

    Don't Miss

    Robinhood Chain suffers 14-minute network outage

    Trump-backed World Liberty Financial stumbles at launch, website goes offline

    Michigan Blocks Predictions Markets Platform Kalshi From Offering Sports Bets in the State

    XRP rebounded strongly by 9.4%; earn $4,000 in passive income daily through ASDeFi

    About
    About

    ChainTechDaily.com is your daily destination for the latest news and developments in the cryptocurrency space. Stay updated with expert insights and analysis tailored for crypto enthusiasts and investors alike.

    X (Twitter) Instagram YouTube LinkedIn
    Popular Posts

    Robinhood Chain suffers 14-minute network outage

    September 4, 2026

    Trump-backed World Liberty Financial stumbles at launch, website goes offline

    September 4, 2026

    Michigan Blocks Predictions Markets Platform Kalshi From Offering Sports Bets in the State

    September 4, 2026
    Lithosphere News Releases
    Copyright © 2026

    Type above and press Enter to search. Press Esc to cancel.