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Crypto Regulation

Michigan judge bars Kalshi sports bets, threatens $500K daily fine

A Michigan judge has ordered Kalshi to stop offering sports event contracts in the state, labeling the platform a sports betting operation “masquerading as an investment opportunity.” The court threatens fines of up to $500,000 per day for non-compliance. Kalshi, a federally regulated prediction market, has not yet commented on the ruling.

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