Michigan authorities continue pursuit to block Kalshi as Supreme Court fight looms

Michigan’s attorney general announced that a state court had ordered a preliminary injunction against Kalshi, blocking the prediction markets platform for residents amid what officials called “sports betting [...] masquerading as an investment opportunity.”In a Wednesday notice, Attorney General Dana Nessel said that the Circuit Court for the 30th Judicial Circuit in Ingham County approved an order blocking Kalshi from offering event contracts to state residents. The company could be fined up to $500,000 per day for violations.“Kalshi long attempted to pass itself off as a legitimate gaming operation in our state, and I am relieved that this order further protects Michigan residents from its predatory, unlicensed practices,” said Nessel.The Michigan court’s actions were the latest in a series of legal battles between prediction market companies like Kalshi and Polymarket and US state authorities. Nessel filed the lawsuit against Kalshi in March, alleging that the platform violated state law on sports gambling — a claim made in many similar lawsuits across the country.Related: Kalshi issues first lifetime ban for Republican politician over insider betsNotably, the preliminary injunc...