Minnesota becomes first US state to ban prediction markets, sparking legal battle with Trump administration
By
ortusdux
Crackling crust, pillowy middle. The kind of bagel that earns a second cup of coffee.
Summary
Minnesota Governor Tim Walz signed the nation's first law banning prediction market platforms like Kalshi and Polymarket, making it a felony to host or advertise such services in the state. The Trump administration has responded by suing Minnesota, setting up a legal battle over state versus federal authority to regulate the prediction market industry, which allows betting on virtually any outcome.
Key quotes
· 4 pulledMinnesota Gov. Tim Walz has signed the nation's first law banning prediction market sites from operating in the state
The Trump administration has sued, teeing up a legal battle over the most far-reaching crackdown on popular services like Kalshi and Polymarket
The new state law makes it a crime to host or advertise a prediction market
It comes as states confront a growing standoff with the Trump administration over how to regulate the industry, which allows people to bet on virtually anything
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