Michigan Court Orders Kalshi to Geofence Sports Contracts
The injunction bars the prediction-market firm from serving Michigan users and threatens $500,000 a day in fines if it fails to comply.
The injunction bars the prediction-market firm from serving Michigan users and threatens $500,000 a day in fines if it fails to comply.
Whitmer named Jim Townsend as successor as the regulator oversees online gambling, Detroit casinos and sports betting
June’s official report showed a 20% drop in online sports handle, while one outlet linked some of the betting surge to the World Cup.
Judge raises the daily geofencing penalty to $500,000 as state and federal regulators clash over event contracts.
The measure covers sportsbooks and prediction markets, and supporters say it could stop minors from using adult accounts to place bets.
The board said the partnership blurs the line between licensed betting and prediction markets, and it is taking its sponsorship and staff with it.
Ingham County Circuit Court Judge Rosemarie Aquilina ordered a 14-day stop, citing Michigan’s 21-plus wagering rule and setting a $120,000-per-day fine for failing to meet geolocation requirements
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