Minnesota state authorities have accused President Donald Trump of actively trying to regulate prediction markets for personal gain in a new court filing as part of their legal battle with the industry.
California and Minnesota attorneys general are challenging the Commodity Futures Trading Commission’s (CFTC) approach to regulating prediction markets.
Let’s do a quick recap of the week that was. Polymarket sued Minnesota a day before New Mexico sued Kalshi, Illinois unveiled plans for a prediction markets per-wager tax, and the Department of Justice is investigating George Santos.
Polymarket is the latest organization to challenge Minnesota’s ban on prediction markets in federal court.
The rivalry between Polymarket and Kalshi is intensifying, with Polymarket compiling a copycat dossier alleging idea theft by Kalshi. Both companies have filed lawsuits, with Polymarket suing Minnesota following Kalshi’s lead.
Kalshi has filed a lawsuit against the State of Minnesota over a new law that would ban prediction markets from August 1, 2026.
SafeBets confirmed it is exempt from a newly signed Minnesota law that will make operating a prediction market a felony in the state because users on its platform do not risk money or fund payouts through losses.
The Commodity Futures Trading Commission (CFTC) sues Minnesota over a ban on prediction markets, fearing negative consequences for farmers.
The Commodity Futures Trading Commission (CFTC) filed a federal lawsuit against Minnesota after Gov. Tim Walz signed a prediction market ban 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 advanced sweepstakes and prediction market bans, Iowa and Louisiana moved enforcement bills, and New York pushed new responsible gambling measures.
