Michigan Attorney General Dana Nessel has obtained a temporary restraining order that serves to bar Kalshi from offering sports-event contracts within Michigan. Use of a geolocation services provider is also required to ensure compliance.

New: Michigan court grants the state’s request for a temporary restraining order against Kalshi over its sports event contracts. The order bars Kalshi from offering sports betting in the state and requires it to use a licensed third-party geolocation provider to comply. pic.twitter.com/8qCFWjT6d3

Kalshi CEO Tarek Mansour has laid out his vision for prediction markets in a wide-ranging interview with The Washington Post, arguing they're far more than just another form of gambling. Instead, he sees them becoming a better way to understand the world, claiming markets with money at stake can outperform pundits and polls. 

Mansour also defended Kalshi's approach to insider trading, saying prediction markets are actually easier to monitor than traditional financial markets because suspicious trades are more obvious. 

Prediction markets may have started as a niche corner of the internet, but Meta clearly thinks they're headed mainstream. According to The New York Times, Mark Zuckerberg has asked executives to explore partnerships with Polymarket and Kalshi as the company develops Arena, a prediction app aimed at younger users. 

Unlike its rivals, Arena would initially use points instead of real-money wagers, with social sharing and friendly competition at its core. Whether those partnerships ever materialize remains unclear.

The insider trading debate around prediction markets isn't going away anytime soon. FairPredicts has renewed calls for a congressional investigation into both Polymarket and Kalshi, pointing to a recent 60 Minutes report that highlighted a network of Polymarket accounts allegedly profiting from U.S. military operations. 

The post argues the issue extends beyond isolated incidents, claiming coordinated activity across multiple accounts. Neither Polymarket nor Kalshi has been found liable for the allegations, but with regulators, lawmakers, and critics all paying closer attention, the pressure on prediction markets shows little sign of easing.

With critics circling and headlines flying faster than a last-minute market swing, Kalshi has decided the best defence is... a dedicated website. Enter Kalshi Truth, a new hub aimed at tackling what the company calls misconceptions about prediction markets, regulation, and how its exchange operates. Think of it as a fact-check page with a distinctly corporate flavour—equal parts FAQ, rebuttal and "allow us to explain." Whether it settles the debate or simply gives everyone something new to argue about remains to be seen. One thing's certain: in prediction markets, even the PR battles now have their own landing pages.

A lot gets said about prediction markets. Here's what's actually true.https://t.co/4dEmfBJd4Z

Good afternoon, welcome to today's live blog. If anyone at Polymarket was hoping for a quiet start to the week, that ship appears to have sailed. 

Fresh off allegations over influencer marketing tactics, the prediction market giant now finds itself facing calls for a federal probe, reports of an ongoing CFTC investigation, and questions over a recent phishing attack. Grab your popcorn (or your probability charts)—we'll be tracking every twist, regulatory curveball, and industry surprise as it happens throughout the day.