A federal judge has blocked Minnesota's state law that would have banned prediction markets, ruling it likely violates federal law as many trades qualify as 'swaps' regulated by the CFTC. The Trump administration and major platforms Kalshi and Polymarket challenged the ban, which was set to take effect August 1.
Background
This case centers on whether state governments can regulate prediction markets or if authority rests solely with the federal Commodity Futures Trading Commission under the Commodity Exchange Act.
- Source
- Ars Technica
- Published
- Jul 29, 2026 at 02:31 AM
- Score
- 8.0 / 10