Polymarket Agrees to Halt Michigan Sports Contracts

Polymarket has agreed to stop offering new sports-related event contracts to Michigan customers and close remaining positions by Nov. 25, 2026, under a court-approved agreement with the state. Michigan will refrain from enforcement action as long as the company complies. The agreement makes Polymarket the fourth major prediction-market operator to halt sports contracts in the state, following actions involving Kalshi, Robinhood and Coinbase. State officials say sports wagering requires a Michigan license and argue the restrictions protect residents and ensure regulated gaming. Polymarket has challenged Michigan’s authority to apply its gambling laws to the platform, and its appeal is pending; the broader dispute over state regulation of federally registered event contracts remains unresolved.