Federal Court Blocks Minnesota's Ban on Prediction Markets
A federal court has issued a preliminary injunction blocking Minnesota from enforcing a new law that would have banned prediction markets. The law, which was set to take effect on August 1, was challenged by the Trump administration and major prediction market platforms, Kalshi and Polymarket. The U.S. Commodity Futures Trading Commission (CFTC) argues that it has exclusive authority to regulate these platforms under federal law. The court's decision highlights the legal debate over whether event contracts offered by prediction markets qualify as 'swaps,' which are regulated by the CFTC. The ruling prevents Minnesota from implementing a total ban, although the state may still be able to restrict certain types of prediction-market wagers. 
