Michigan Order Puts Kalshi Sports Contracts Offline, With $500,000 Daily Fines

Kalshi faces potential daily fines of $500,000 after Michigan required the prediction-market platform to take its sports event contracts offline, according to CryptoSlate. The measure comes through a preliminary injunction that remains in effect until a final order is issued. The order also requires notice to a futures broker, adding an operational obligation alongside the restriction on sports-related contracts. The dispute unfolds as courts remain divided at the appellate level over issues connected to event contracts, according to the report. The injunction and fine exposure increase regulatory pressure on Kalshi while the case continues. No final ruling has been issued based on the information available.