Minnesota passes prediction markets ban
Minnesota has enacted a ban on prediction markets, becoming the first state to regulate them through legislation. Governor Tim Walz signed the bill, which includes public safety provisions, set to take effect on August 1. The law is facing challenges, including opposition from the CFTC, which argues that it interferes with farmers' ability to make weather-related predictions.
- ▪Minnesota has passed a law banning prediction markets like Kalshi and Polymarket.
- ▪The law is scheduled to take effect on August 1, 2026.
- ▪The CFTC has filed lawsuits against states attempting to regulate prediction markets, claiming exclusive oversight authority.
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News Minnesota passes prediction markets ban The CFTC has already sued to prevent the law's enforcement. By Anna Washenko May 19, 2026 3:36 pm EST lev radin/Shutterstock Minnesota is the latest state to try and curtail the activities of prediction markets like Kalshi and Polymarket. Governor Tim Walz signed a bill that included a number of public safety provisions, including a ban on those markets operating within the state. The provisions are slated to take effect on August 1, but they are already facing challenges. This appears to be the first attempt by a state to regulate prediction markets via legislation rather than lawsuits, but the lawsuits haven't gotten off to a good start.
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