Minnesota’s proposed ban on certain prediction-market event contracts was awaiting Governor Tim Walz’s signature, according to the report. The available text gives no further details on the measure or its scope.
A signature would determine whether Minnesota prohibits the specified prediction-market event contracts.
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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.
A federal judge in Minnesota has granted a preliminary injunction against the state's ban on prediction markets. The judge found the law is likely preempted by federal authority.
It was reported that a preliminary injunction stopped Minnesota implementing its law banning prediction markets. The interim ruling favours Kalshi and Polymarket without settling the wider legal questions.
A federal judge blocked Minnesota's proposed ban on prediction markets. Judge Katherine Menendez ruled that the CFTC holds sole authority over event contracts and that the block would cause irreparable harm to Kalshi and Polymarket.
Polymarket filed a lawsuit in federal court against Minnesota, seeking to block the state’s law restricting event-contract trading before it takes full effect. The company argues the law conflicts with federal authority and violates its speech rights; the complaint names Governor Tim Walz and Attorney General Keith Ellison as defendants.