Polymarket will stop offering new sports event contracts to Michigan customers and close out all open positions by Nov. 25 under an agreement with the state, the Michigan Gaming Control Board announced Wednesday.
Polymarket is the fourth operator to halt sports event contracts in Michigan, as the MGCB and the state attorney general’s office have also reached agreements with Coinbase and Robinhood and secured a court order against Kalshi in recent months. The agreements have taken four of the most prominent prediction markets out of Michigan’s sports contract space.
“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,” Atty. Gen. 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.”
Details on the agreement
Polymarket’s case was originally consolidated with Robinhood’s, but Robinhood was the first to retreat last month.
Under the stipulation, approved by the U.S. District Court for the Western District of Michigan, Polymarket will stop offering new sports event contracts and close any positions Michigan customers haven’t closed voluntarily by Nov. 25. In return, the state agreed not to take enforcement action against Polymarket as long as it remains in compliance.
“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.”
The Michigan attorney general’s office notified Polymarket on Sept. 10 that it would take legal action if the company didn’t stop offering sports event contracts. That came one day after Robinhood agreed to pull its contracts in the state.
Polymarket appeal still pending
The MGCB noted that Polymarket sued state officials in federal court in March, seeking to block the state from enforcing its gambling laws. The court denied Polymarket’s request for a temporary restraining order that month and denied its motion for a preliminary injunction in June.
Polymarket’s appeal of that ruling is pending before the Sixth Circuit. That is the same court that ruled in September that Ohio and Tennessee can enforce their gambling laws against Kalshi’s sports event contracts, a decision that is binding on federal courts in Michigan.
