A Michigan circuit court judge issued a 14-day temporary restraining order against Kalshi, prohibiting the platform from offering sports-related prediction markets in the state. The ruling, requested by state regulators, argues that these markets could cause irreparable harm, particularly to young users, as they resemble illegal gambling operations rather than regulated investments. Judge Rosemarie Aquilina emphasized that Kalshi's offering to users as young as 18 exploits vulnerable individuals and risks serious mental health issues without proper safeguards. Kalshi has blocked Michigan users from accessing sports wagers and plans to fight the decision in court. Michigan Attorney General Dana Nessel praised the order, vowing to continue enforcement against all unlicensed prediction market platforms. This case is part of a broader national conflict over whether prediction markets are illegal gambling or federally regulated swaps, with similar bans in Nevada and Massachusetts, and potential Supreme Court involvement.

Key facts

• Michigan judge orders 14-day ban on Kalshi sports prediction markets
• Court cites irreparable harm to young users and vulnerable citizens
• Kalshi blocks Michigan users from sports wagers, plans to fight ruling
• Attorney General Nessel vows to enforce against all unlicensed platforms
• National legal battle over prediction market regulation continues