Trump administration sues over Minnesota prediction markets ban

The Trump administration sued Minnesota on Tuesday over the state’s new law banning prediction markets.

The Commodity Futures Trading Commission (CFTC) has repeatedly sued states in recent months over efforts to regulate or restrict the platforms, arguing it has exclusive jurisdiction over sites like Kalshi and Polymarket.

“If Minnesota’s law is permitted to go into effect, the exchanges that offer these longstanding contracts—as well as those who partner with them—can be prosecuted as felons,” the lawsuit reads.

“This flagrant and unprecedented incursion into the Commission’s exclusive regulatory sphere must be preliminarily and permanently........

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