(ABC 6 News) — A federal judge has blocked a Minnesota law that would ban prediction markets such as Kalshi from operating in the state. On Monday, Judge Katherine Menendez granted a preliminary injunction to the Commodity Futures Trading Commission (CFTC), Kalshi, and Polymarket, which at least tem…
A Wall Street regulator, Kalshi and Polymarket had sued after Gov. Tim Walz signed the measure into law in May, making it a crime to operate, host or promote a prediction market in Minnesota.
A federal judge halted a new Minnesota law aimed at stopping the massive expansion of gambling via prediction markets on sites like Kalshi and Polymarket. The two companies and the Trump administration sued Minnesota to invalidate the new law, and…
The ban affecting platforms like Kalshi and Polymarket was set to go into effect Aug. 1. The author of the bill says he’s “disappointed” but “optimistic” that Minnesota’s ban will prevail.
The law, which was scheduled to take effect Saturday, would have made it a crime to create or operate prediction markets or help administer nearly any activity connected to one.
A federal judge has temporarily blocked Minnesota’s first-in-the-nation law banning prediction markets just days before it was to take effect, the latest clash between President Donald Trump’s administration and states over who regulates operators such as Kalshi and Polymarket.
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Minnesota’s first-in-the-nation law banning prediction markets is halted in federal court | Since Then
