Regulation· ★★★· neutral·

Michigan Seeks Contempt Ruling Against Kalshi Over Sports Contract Ban

  • —Michigan seeks civil contempt ruling against Kalshi for marketing sports contracts after a Sept. 1 injunction
  • —Hearing scheduled for Nov. 24, with potential fines of up to $500,000 per day
  • —Coinbase and Robinhood agreed to stop offering sports event contracts in Michigan
  • —Federal appeals courts are split: the Third Circuit backed Kalshi, while the Ninth and Sixth sided with state regulators
Why it matters: The case will shape whether states can regulate prediction markets and how compliance is enforced while the federal preemption dispute remains unresolved.
Source: DeFi Rate
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Regulation · Oct 3
Kalshi and Coinbase Win Partial Illinois Ruling on Sports Contracts
 Regulation · Oct 8
Coinbase to Halt Sports Prediction Contracts in Michigan by October 10
 Regulation · Oct 8
Blanche Lincoln, who once warned about sports event contracts, now lobbies for Kalshi