Michigan Court Issues Preliminary Injunction Against Prediction Market Kalshi

Michigan Attorney General Dana Nessel announced that the 30th Judicial Circuit Court of Ingham County has granted a preliminary injunction blocking Kalshi from offering its contract products to state residents. Nessel characterized Kalshi's operations as unlicensed and predatory, noting that the platform faces daily fines of up to $500,000 for non-compliance. This development intensifies jurisdictional tensions, as the Commodity Futures Trading Commission (CFTC) previously instructed Kalshi to ignore state-level bans, while New Jersey authorities have petit