Judge blocks Minnesota’s first-in-nation ban on prediction markets run by Kalshi, Polymarket

Source: New York Post

A federal judge on Monday blocked Minnesota from enforcing a newly enacted law that made the state the first nationally to outright ban prediction markets like those run by Kalshi and Polymarket. District Judge Katherine Menendez in Minneapolis issued a preliminary injunction at the behest of Kalshi, Polymarket and the Commodity Futures Trading Commission after finding that federal law likely preempted the state law, which was set to take effect on Saturday. The companies, CFTC and Minnesota’s attorney general did not immediately respond to requests for comment.