Polymarket Halts Michigan Sports Prediction Markets by November 25

Per an agreement with the Michigan Gaming Control Board, Polymarket will cease all sports event contracts in the state, and all customer must close out their positions by November 25. 

With this news, Polymarket is now the fourth state in Michigan to stop sports event contracts, joining Coinbase, Robinhood, and Kalshi. The state got a court order to halt Kalshi earlier this year. 

“One by one, from Kalshi to Robinhood and Coinbase, and this latest agreement with Polymarket, we’re holding the national sports betting industry accountable to Michigan law,” Attorney General Dana Nessel said in a statement. “Alongside the MGCB, we’re protecting Michigan residents by ensuring gaming in our state occurs in licensed and regulated ways, and under the protections and safeguards afforded by the law.”

Michigan Reaches Agreement With Polymarket Over Sports Contracts

In Michigan, Robinhood and Polymarket were initially in separate cases, but the cases were later combined. Then, Robinhood decided last month to pull out. 

Under this agreement, Michigan won't take action against Polymarket as long as it stays compliant. 

“Polymarket joining Kalshi, Robinhood, and Coinbase in stepping back from these unlicensed sports contracts shows that Michigan’s approach is working,” MGCB Executive Director Henry Williams said. “We expect all operators to respect Michigan’s regulatory framework. If you want to offer sports wagering to Michigan residents, you need a Michigan license.”

This follows the Michigan Attorney General's Office telling Polymarket in early September that it would take legal action if it didn't stop. 

Polymarket Appeals Michigan Rulings in Sixth Circuit

That said, Polymarket filed a lawsuit against Michigan in March, hoping to avoid state gambling regulation. Polymarket was then denied a temporary restraining order and a motion for a preliminary injunction. 

Polymarket is appealing in the Sixth Circuit, but it should be noted that it's the same court that ruled in favor of Ohio and Tennessee earlier this year in a case involving Kalshi, so that doesn't appear to be headed in a positive direction for Polymarket. 

Either way, Polymarket is pulling out by November 25, and customers must cash out of their positions before November 25, or Polymarket will do it for them to remain compliant.