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Federal Judge Suspends Minnesota's Prediction Market Ban, Grants Kalshi, Polymarket Preliminary Injunctions

Regulation & Policy Prediction Market Enforcement Actions

2026-07-28 00:01:01

POLYMARKET-3.61%

According to Odaily, on Monday (July 27), U.S. federal judge Katherine Menendez granted preliminary injunctions to Kalshi, Polymarket, and the CFTC, suspending Minnesota's recently enacted prediction market ban. Menendez ruled the state law likely conflicts with the Commodity Exchange Act. Kalshi, Polymarket, and the CFTC sued Minnesota earlier this year after the state criminalized operating prediction market products within its jurisdiction. The three parties argue that prediction market contracts are structured as "swaps" and that Minnesota's law infringes on the CFTC's regulatory authority over such products.

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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