The Michigan Gaming Control Board announced Oct. 7 that Coinbase Financial Markets has agreed to stop offering new sports-related event contracts to Michigan customers by 12 a.m. Eastern on Oct. 10, 2026. Coinbase also agreed to close any remaining open customer positions by that deadline.
The board describes the contracts as sports wagering products presented as federally regulated prediction markets. It says the agreement follows a nearly identical one with Robinhood and that Michigan has now secured agreements or court orders halting such contracts from Kalshi, Robinhood and Coinbase. The covered contracts include those traded on KalshiEX and other designated contract markets.
In return, the state agreed not to take enforcement action against Coinbase as long as it complies and while related appeals go on in the U.S. Court of Appeals for the Sixth Circuit. The board says the court denied Coinbase's request for a preliminary injunction in August 2026, and that Coinbase's appeal of that ruling is pending. The agreement does not settle the underlying legal question.
Michigan residents with open sports contract positions on Coinbase should check how and when their positions will be closed before the Oct. 10 deadline, and review their account statements afterward. The board's release does not describe how positions will be settled. It also notes gambling help is available at 1-800-GAMBLER.