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CFTC Sues Minnesota Officials Over Prediction Market Ban Set for Aug 1

GateNews

Enforcement Actions Regulation & Policy Prediction Market

2026-05-20 05:30:56

KALSHI-1.58%

POLYMARKET-2.9%

According to Cointelegraph, the U.S. Commodity Futures Trading Commission (CFTC) sued Minnesota Governor Tim Walz, Attorney General Keith Ellison, and other state officials over SF 4760, a law banning prediction market platforms and set to take effect on August 1. The law prohibits the advertising, creation, operation, or promotion of prediction markets and classifies event contracts on platforms such as Kalshi and Polymarket as wagers. The CFTC claims it holds exclusive jurisdiction over prediction markets under the Commodity Exchange Act and requested the court block the state law.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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