Michigan Judge Bars Kalshi From Offering Sports Prediction Services to State Residents

KALSHI-6.81%
According to Reuters, on June 30, a Michigan circuit court judge issued a temporary restraining order prohibiting the prediction market platform Kalshi from allowing state residents to engage in financial predictions on sports events. The order was issued at the request of Michigan Attorney General Dana Nessel, who alleged that Kalshi's operations violated state law. Judge Rosemarie Aquilina's ruling imposes a daily fine of $120,000 for each day Kalshi fails to comply with the geographic restrictions required.
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