Trump administration fights Minnesota law outlawing Kalshi, Polymarket-style markets
The Trump administration is challenging a Minnesota law that bans certain prediction markets. The law was set to take effect on August 1, but the CFTC chairman argued it criminalizes lawful operators and participants. This legal battle highlights ongoing tensions regarding the regulation of prediction markets.
- ▪The Minnesota law outlaws prediction markets like Kalshi and Polymarket.
- ▪CFTC chairman Michael Selig criticized the law for making lawful operators felons.
- ▪The law was scheduled to go into effect on August 1.
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Trump administration fights Minnesota law outlawing Kalshi, Polymarket-style marketsThe law was to go into effect Aug. 1, but CFTC chairman Michael Selig said in a statement that it "turns lawful operators and participants in prediction markets into felons overnight."Follow us on GooglePolymarket Logo And Website With Prediction Market Interface On Computer Screen.(photo credit: PJ McDonnell/Shutterstock)
Excerpt limited to ~120 words for fair-use compliance. The full article is at The Jerusalem Post | JPost.com.