A Michigan court has issued a temporary restraining order against prediction market platform Kalshi, prohibiting it from offering sports betting services to state residents. The court's decision, announced on Monday, imposes a daily fine of $120,000 if Kalshi fails to comply with geolocation requirements. This makes Michigan the second state, after Nevada, to enforce such a ban on Kalshi, while a similar order in Massachusetts is on hold pending appeal. The judge argued that Kalshi's sports betting operations, disguised as investment opportunities, are harming Michigan residents. Kalshi plans to contest the ruling, asserting its operations fall under the exclusive jurisdiction of the CFTC.