Michigan bans prediction markets as gambling crackdown intensifies across US states
Michigan has become the latest US state to crack down on prediction markets and event contract platforms. The Michigan Gaming Control Board (MGCB) issued a warning to licensed operators, barring them from offering or partnering with such services. The move follows similar actions by other states concerned about unregulated gambling risks. The MGCB sent a memo to all licensed gaming companies, making it clear they must avoid sports event contracts. Executive Director Henry Williams stated that operators cannot work with, promote, or associate with these platforms. Companies that ignore the warning risk losing their gambling licences entirely.
Michigan joins Arizona, Massachusetts, and New Jersey in opposing prediction markets. Massachusetts Attorney General Andrea Joy Campbell previously accused these platforms of dodging gambling laws. The platforms argue they fall under the Commodity Futures and Trading Commission (CFTC), not gambling regulators. Despite the pushback, prediction market companies like Kalshi have launched sports-related products. Kalshi recently introduced a sports parlay offering, claiming it outperforms traditional sportsbooks. However, mainstream operators such as FanDuel and DraftKings must now pause any plans to enter this space due to the MGCB's stance.
The MGCB's decision restricts licensed gambling firms from expanding into event-based contracts. Operators in Michigan must now comply or face penalties, including potential licence revocation. The warning reinforces a growing trend among states to tighten oversight on these platforms.
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