Minnesota Becomes First State to Outlaw Prediction Markets, Immediately Sued by Federal Regulators • Oklahoma Voice

Minnesota becomes first state to outlaw prediction markets, immediately sued by federal regulators • Oklahoma Voice

Minnesota became the first state to outlaw prediction markets, where people can bet on events, on May 18, 2026. (Photo by Alyssa Chen/Minnesota Reformer)Minnesota became the first state to outlaw prediction markets — online platforms where people can bet on the outcomes of events — after Gov. Tim Walz signed a public safety bill (SF4760) into law Monday. Federal authorities at the Commodity Futures Trading Commission quickly filed a lawsuit Tues…

Engadget: Minnesota passes prediction markets ban

Engadget: Minnesota passes prediction markets ban. “Minnesota is the latest state to try and curtail the activities of prediction markets like Kalshi and Polymarket. Governor Tim Walz signed a bill that included a number of public safety provisions, including a ban on those markets operating within the state.”

Minnesota Bans Prediction Markets, CFTC Sues

State blazes a trail Minnesota has become the first state to ban prediction markets, after Governor Tim Walz signed SF4760, a public safety bill, into law. The bill was previously passed overwhelmingly by both chambers of the state legislature. The new law makes it a felony to create, operate, and even advertise prediction markets; penalties are up to five years in prison and a $10,000 fine. Bettors, though, would not face criminal punishment. A…