Polymarket will stop offering new sports betting-like contracts in Michigan under an agreement with state gambling regulators.

The negotiated agreement with the Michigan Gaming Control Board requires QCX LLC, also known as Polymarket US, to stop offering what it calls a contract to Michigan customers on the outcome of sporting events and close out any remaining contracts by Nov. 25.

Critics of Polymarket’s prediction “contracts” contend it’s just another form of making wagers on professional and college sports.The agreement, approved by a federal district court judge, follows a court-ordered stoppage of sports-related event contracts by KalshiEX and similar stipulations the state has reached with Coinbase Financial Markets and Robinhood Derivatives.”We’re holding the national sports betting industry accountable to Michigan law,” Attorney General Dana Nessel said in a statement announcing the agreement on Wednesday, Oct. 28.

“Alongside the MGCB, we’re protecting Michigan residents by ensuring gaming in our state occurs in licensed and regulated ways, and under the protections and safeguards afforded by the law.”