Prediction markets legal battles heat up in Minnesota, Rhode Island
Legal disputes over prediction markets are intensifying in Minnesota and Rhode Island. The CFTC has filed lawsuits against state officials, asserting federal authority over prediction markets. These cases could potentially escalate to the US Supreme Court as companies challenge state regulations.
- ▪Minnesota Governor Tim Walz signed a law prohibiting prediction market platforms, prompting a lawsuit from the CFTC.
- ▪Kalshi is challenging the Minnesota law on constitutional grounds, claiming federal law takes precedence over state law.
- ▪The CFTC also filed a joint motion with Kalshi against Rhode Island officials regarding the legality of event contracts.
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Written by Turner Wright , Staff Writer.Reviewed by Robert Lakin , Staff Editor.Written by Turner Wright , Staff Writer.Reviewed by Robert Lakin , Staff Editor.Prediction markets legal battles heat up in Minnesota, Rhode IslandLatest NewsPublishedMay 28, 2026Kalshi sued Minnesota while the CFTC filed against Rhode Island as legal wrangling with state-level authorities seems likely headed to the US Supreme Court.The US Commodity Futures Trading Commission (CFTC) and companies behind prediction market platforms are continuing legal fights against state-level authorities, with the latest battlegrounds centered in Rhode Island and Minnesota.Last week, Minnesota Governor Tim Walz signed a bill into law amending statutes to prohibit advertising, creating, operating or otherwise facilitating…
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