The legal dispute between Michigan and prediction market platform Kalshi could reach the US Supreme Court. Michigan Attorney General Dana Nessel sued Kalshi on March 3, 2026 for violating the state’s sports betting law, securing a temporary restraining order from Judge Rosemarie Aquilina on June 29. The CFTC contradicted this ruling in July 2026 by ordering Kalshi to maintain its Michigan operations. The core question is whether the CFTC’s federal authority over derivatives markets preempts state gambling laws. Coinbase and Polymarket are also involved in similar litigation, indicating a broader confrontation over digital prediction market governance.
Source: Read the original article
