Tag: fines
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Michigan Court Issues Injunction Against Kalshi Over Unlicensed Sports Betting Operations and Imposes Massive Daily Fines for Non-Compliance
A Michigan circuit court has issued a preliminary injunction against KalshiEx, LLC, a prominent prediction market platform, prohibiting the company from offering sports-related wagering contracts to residents of the state. The ruling, which follows a legal battle initiated by the Michigan Department of the Attorney General, mandates that the platform implement rigorous geofencing measures through…
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Michigan Court Issues Preliminary Injunction Against Kalshi Prohibiting Unlicensed Sports Betting Under Threat of Massive Daily Fines
In a significant legal blow to the burgeoning prediction market industry, a Michigan court has issued a preliminary injunction against KalshiEx, LLC, effectively barring the platform from offering sports-related wagers to residents of the state. The ruling, which comes after months of legal maneuvering between the company and state regulators, establishes a strict compliance framework…
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