A federal judge has blocked Minnesota’s groundbreaking law that would’ve criminalized prediction markets, halting enforcement until a full case is decided. The ruling, siding with platforms Kalshi and Polymarket and the CFTC, argues federal law likely overrides state regulations — especially for markets tied to economic events like elections. While reality TV markets may be an exception, the judge warned against irreparable harm to compliant platforms. The state’s attorney general disagrees, calling the decision a loophole for “predatory gambling apps,” while federal agencies have already sued other states over similar laws — signaling a nationwide legal battle brewing.
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