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

By: Alyssa Chen

Outlets: Minnesota Reformer

Published: May 19, 2026

Words: 974

Last Updated: 2 months ago

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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 Tuesday aiming to stop the law from going into effect on Aug. 1, arguing that prediction markets fall under federal oversight.

The Minnesota prediction market …

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