Judge Blocks Minnesota’s Prediction-Market Ban as Federal Challenge Moves Forward

A federal judge issued a preliminary injunction halting Minnesota’s plan to ban prediction-market sites, ruling that the CFTC and platforms Kalshi and Polymarket are likely to prevail and that enforcing the law could cause irreparable harm while the lawsuit proceeds. The order notes most event contracts fall under federal regulation, though some pop-culture events might lie outside the CFTC’s purview, and the case against the state’s statute continues.