Polymarket Loses Bid for Preemptive Shield From Michigan AG Suit

Polymarket failed to convince a federal judge to grant it an emergency reprieve against a potential enforcement lawsuit by Michigan gaming regulators.

The prediction market provider and Robinhood Markets Inc.‘s derivatives exchange separately sued Michigan officials last week after the state’s attorney general brought an enforcement action against Kalshi Inc.‘s exchange. The action accused Kalshi of offering sports betting without a license in violation of state laws. Polymarket pointed to that suit as evidence it faces imminent enforcement action in the state.

But Polymarket appears unlikely to succeed in its argument that its sports offerings are a type ...