Michigan Judge Blocks Kalshi from Offering Sports Event Prediction Services to State Residents

BlockBeats News, June 30th, according to Reuters, a judge in Michigan, USA ruled on Monday to prohibit the prediction market platform Kalshi from allowing residents of the state to engage in financial betting on sports events. Earlier, the Michigan Attorney General accused Kalshi's related operations of violating state law.

Responding to a request from Michigan Attorney General Dana Nessel of the Democratic Party, Judge Rosemarie Aquilina of the Ingham County Circuit Court issued a temporary restraining order. The judge stated that if Kalshi fails to comply with the geolocation restrictions imposed by the ruling, a fine of $120,000 will be imposed for each day of violation.