Minnesota Bans Prediction Markets—And Is Sued By the Trump Admin Hours Later
Decrypt·
60-second summary
Minnesota has banned prediction markets, making it a felony to create or operate them in the state, with 25 active prediction market platforms affected. The Trump administration has sued Minnesota, claiming the ban violates federal law, specifically the Commodity Exchange Act. This move could set a precedent for federal-state conflicts over regulation.
Minnesota's ban has made it a felony to create or operate a prediction market in the state. The CFTC and DOJ say it violates federal law.