Minnesota prediction market ban paused by federal judge days before rollout

• ▪District Judge Katherine Menendez issued a preliminary injunction pausing the Minnesota prediction market ban.
• ▪The judge noted that many event contracts offered by Kalshi and Polymarket qualify as swaps under the Commodity Exchange Act, giving the CFTC exclusive jurisdiction.
• ▪She warned that the state ban might still apply to contracts not classified as swaps, limiting the injunction's scope.
• ▪Attorney General Keith Ellison announced the state will respectfully disagree with the court's decision.
• ▪Other states such as Rhode Island, New Jersey, and California are pursuing comparable actions against prediction market platforms.

10 outlets in our directory ran this story, first to last over 23 hours. Coverage spans 4 points on the political spectrum — 3 lean left, 2 centre, 1 lean right, 2 right.

• ▪ Judge blocks first state law that would have banned prediction markets — Ars Technica
• ▪ Federal Judge Halts Minnesota's Prediction Market Ban, Signaling Other States' Efforts Might Be Illegal Too — Reason.com
• ▪ Minnesota judge blocks prediction market ban — Washington Examiner
• ▪ Prediction Markets Saved From Minnesota Ban by Last-Minute Ruling — Gizmodo
• ▪ Minnesota Judge Blocks First State Ban on Prediction Markets Like Kalshi and Polymarket — NYT — US
• ▪ Judge blocks Minnesota’s first-in-nation ban on prediction markets run by Kalshi, Polymarket — New York Post
• ▪ Judge blocks Minnesota's first-in-nation prediction markets ban - Reuters — Google News
• ▪ Federal judge blocks Minnesota’s prediction market ban days before it takes effect — NBC News — Top
• ▪ A federal judge issues a preliminary injunction blocking Minnesota from enforcing a newly enacted law that banned prediction markets like Kalshi and Polymarket (Nate Raymond/Reuters) — Techmeme

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