KSR Wins Prediction Markets Regulation Battle

KSR, as counsel to the Michigan Attorney General, in conjunction with the Michigan Attorney General’s Office, defeated motions by two national prediction markets, Polymarket US and Robinhood Derivatives, to preempt Michigan state law through the Commodity Exchange Act. Judge Paul L. Maloney of the U.S. District Court for the Western District of Michigan denied Polymarket’s and Robinhood’s motions seeking to enjoin Michigan from regulating sports event contracts through Michigan state gambling laws. The cases are Robinhood Derivatives, LLC v. Nessel, No. 26-cv-730, and QCX LLC v. Nessel, No. 26-cv-710. David Slovick handled the cases for the firm.