By SectorWire desk ·
The report said that Judge Katherine Menendez blocked Minnesota’s proposed prediction-market ban. She found exclusive CFTC jurisdiction over event contracts and potential irreparable harm to Kalshi and Polymarket.
The ruling prevents the proposed state restriction from proceeding against prediction-market operators.
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Ohio’s request puts disputed state and federal authority over sports prediction market operators before the Supreme Court.
The lobbying seeks to influence the regulatory treatment of prediction market products in the USA.
The dispute concerns whether federal commodities regulators or gambling authorities should oversee sports contracts, affecting prediction market oversight.
The dispute concerns whether sports prediction platforms must comply with state gambling laws alongside federal financial supervision.
The case and lawsuit could affect how sports event contracts operate and how Florida’s gaming compact applies to DraftKings’ platform.
The case could determine whether states can apply gambling laws to prediction market operators such as Kalshi and Polymarket.