SectorWire
SearchGet the daily briefing
Menu

Minnesota challenges CFTC authority over prediction markets in court filing

Regulation

Minnesota state authorities argued in a court filing that the CFTC cannot regulate prediction markets covering sports, politics and other events. The filing contends that federal law does not override state authority and that Kalshi and Polymarket should be barred from offering these markets to Minnesota residents. It also alleges that President Donald Trump’s stance on the sector may benefit his business interests.

The dispute could affect whether prediction-market operators can serve Minnesota residents under state law.

Request a correction

Keep reading

Regulation

Minnesota governor bars state employees from prediction-market trading

Minnesota Governor Tim Walz signed an executive order barring state agency employees from using confidential or non-public work information to participate in prediction markets. The prohibition applies whether or not an employee makes a profit, and violations may lead to discipline, including dismissal. The order follows a federal judge’s preliminary injunction blocking implementation of a state law banning prediction markets.

Continue reading