Friday’s preliminary injunction barring Minnesota from implementing its unique law banning all prediction markets chalks another tally for Kalshi, Polymarket and the Commodity Futures Trading Commission (CFTC) on the ever-expanding U.S. court scoreboard.
With golf’s major season officially concluded, the PGA Tour moves on to the 3M Open at TPC Twin Cities in Minnesota.
California and Minnesota attorneys general are challenging the Commodity Futures Trading Commission’s (CFTC) approach to regulating prediction markets, arguing the federal agency is not equipped to handle gambling-related harms such as addiction and social costs.
Polymarket is the latest organization to challenge Minnesota’s ban on prediction markets in federal court.
Kalshi has joined the Commidity Futures Trading Commission (CFTC) in launching a formal complaint against the State of Minnesota over the latter’s signing into law a draft bill that would effectively prohibit and outlaw prediction markets starting on August 1, 2026.
After lawmakers passed a bill outlawing prediction markets with a strong majority last week, Minnesota Gov. Tim Walz finally did his bit and signed the draft into law.
Minnesota is a governor’s signature away from becoming the first U.S. jurisdiction to explicitly ban the operation of prediction markets through legislation.
Minnesota lawmakers approved legislation on Tuesday that would ban prediction market operations in the state, potentially making it the first explicit state-level prohibition on the fast-growing industry and setting up a legal clash over federal authority.
Two bills are advancing in Minnesota that would prohibit sweepstakes casinos and prediction markets on a wide range of events, including sports.
The Minnesota Senate voted to ban prediction market platforms from operating in the state.