The Michigan Gaming Control Board announced on 7 October 2026 that Coinbase Financial Markets, Inc. has agreed to stop offering new sports-related event contracts to Michigan customers by 12:00 a.m. Eastern time on 10 October 2026, and to close any remaining open positions by the same deadline.
What the agreement does
- Scope. It covers sports event contracts, including those traded on KalshiEX and other designated contract markets.
- Enforcement. The state agrees not to take enforcement action while Coinbase complies and while related appeals proceed before the Sixth Circuit.
- Legal question open. The stipulation does not resolve whether Michigan may regulate CFTC-registered event contracts as gambling. A court denied Coinbase a preliminary injunction in August 2026, and its appeal is pending.
The board says Robinhood agreed to a nearly identical arrangement, and that Kalshi is under a state-court injunction.
What changes in our data
Our data records no Michigan row for Coinbase yet. We will add one from this notice once the deadline has passed and we can confirm the sports markets are closed.
Coinbase
United States
Kalshi