The state of Michigan issued a temporary restraining order on Kalshi, barring the prediction market platform from offering sports-related event contracts in the U.S. state.
Ingham County Circuit Court Judge Rosemarie E. Aquilina issued the order on Monday, according to a statement from Attorney General Dana Nessel. The temporary restraining order lasts for 14 days, meaning that it will remain in effect until July 13.
The order also stipulates that the court would fine Kalshi $120,000 for each day it does not comply with the geo-fencing requirements it imposes.
"Our gambling laws exist to protect Michiganders from unlicensed, predatory operations, and failing to comply with them carries serious legal consequences," Nessel said in the statement.
The restraining order comes after the Western District of Michigan court granted Nessel's motion to remand the state's lawsuit against Kalshi back to the state court. Kalshi had attempted to remove the case to the federal level.
