Coinbase will stop offering sporting event prediction market contracts in Michigan on Oct. 10.
- Coinbase becomes the third prediction market operator to cease offering sporting event contracts in the Wolverine State.
- A recent Sixth Circuit ruling strengthened Michigan's position as it challenges sports event contracts under state law.
- Related appeals in the Sixth Circuit are pending.
The Michigan Gaming Control Board (MGCB) announced it reached an agreement with prediction market operator Coinbase to halt its sporting event contracts on Oct. 10. On that date, Coinbase will stop offering new sports-related contracts and will close out any existing contracts.
The agreement follows a similar deal the MGCB made with Robinhood last month. Meanwhile, Kalshi stopped offering its sporting event contracts in Michigan in June after an Ingham County Circuit Court issued a temporary restraining order.
"Coinbase joining Robinhood and Kalshi in stepping back from these unlicensed sports contracts underscores Michigan’s commitment to enforcing its gaming laws,” said MGCB executive director Henry Williams. “Operators are halting these activities because they face significant legal consequences for continuing to offer them in our state.”
Prediction market sites offering sports event contracts do not hold Michigan sports betting licenses or pay state gaming taxes. Michigan argues that the contracts constitute unlicensed sports betting under state law.
“Our efforts, alongside the Gaming Control Board, are making a clear impression on the executives of the illegal sports betting industry, and we’re glad to reach yet another agreement that protects Michigan residents,” said Michigan Attorney General Dana Nessel. “Michigan gaming law is simple and clear, and written to keep gaming in our state fair and well-regulated. Whether by agreement or court order, we intend to bring all sports betting into compliance with the law.”
Michigan has agreed not to take enforcement action against prediction market operators that comply with MGCB agreements or court orders preventing them from offering sporting event contracts to state residents. The operators and state now await further rulings from the Sixth Circuit on the related appeals.
Michigan's legal efforts
Prediction market news is, for the most part, a long-running legal saga, and Michigan has played a major role in it. In April 2025, Michigan opened investigations into prediction market operators. In March 2026, Michigan filed a civil enforcement action against Kalshi. That same week, Polymarket filed a preemptive lawsuit against the state.
In September, the Sixth Circuit ruled against Kalshi in cases involving Ohio and Tennessee regulators. The court upheld Ohio's decision to deny Kalshi's request to block enforcement and overturned a similar order in Tennessee, finding that Kalshi had not shown its sports event contracts were swaps under the CFTC's rules.
