Polymarket Halts New Michigan Sports Positions as State Restrictions Spread
- —Michigan customers were emailed this week that new sports trades on Polymarket are blocked
- —Kalshi faces a state-court injunction; Robinhood and Coinbase reached agreements with the state
- —Kalshi could face penalties of up to $500,000 per day of noncompliance
- —The Sixth Circuit ruled against Kalshi in September; a full-court rehearing was requested
Why it matters: The state-versus-CFTC fight over sports event contracts will decide whether prediction markets can operate across the US without gambling licenses.
Source: DeFi Rate