A Michigan state court has issued a preliminary injunction mandating Kalshi to prevent local users from accessing contracts tied to sports events. The order requires the implementation of geolocation technology, with potential penalties of $500,000 per day for non-compliance.
The lawsuit, initiated by state authorities in March, claims that Kalshi is essentially providing sports betting under the guise of event contracts, lacking the necessary licensing. This restriction will stay in place until a conclusive judgment is reached in the case.
