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Federal judge blocks Minnesota prediction market ban, finding the law likely preempted by CFTC exclusive jurisdiction, GambleRss reports
- Federal judge blocks Minnesota prediction market ban, finding the law likely preempted by CFTC exclusive jurisdiction, GambleRss reports — GambleRss reported Judge Katherine Menendez issued a 44-page ruling granting preliminary injunctive relief to the CFTC, Kalshi and Polymarket US, concluding Minnesota's prediction market statute is likely at least partially preempted because the CFTC has exclusive jurisdiction over swaps traded on designated contract markets. The ruling found the platforms faced irreparable harm from possible criminal prosecution and substantial liability if trades had to be cancelled. (GambleRss)
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