A federal judge granted a preliminary injunction pausing Minnesota's prediction market ban days before it was to take effect. The ruling came in response to lawsuits from the Justice Department, the Commodity Futures Trading Commission, Polymarket, and Kalshi.
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The ruling follows lawsuits from the Justice Department, the Commodity Futures Trading Commission, Polymarket and Kalshi.
this outlet adds: granted, preliminary, injunction, pausing, first, kind, monday, slated
A federal judge on Monday halted a prediction market ban in Minnesota days before it was set to roll out. District Judge Katherine Menendez wrote that the Trump administration, Kalshi and Polymarket are “likely to succeed on the merits” in the case arguing that the state ban is pre-empted by federal law. “Specifically, it appears...
this outlet adds: admin, thehill, policy, techn, polymark
Kalshi and Polymarket win temporary reprieve from Minnesota prediction market ban, pending federal law interpretation. The order turns on whether each contract counts as a swap under federal law, and the judge found that not every one does.
readwrite.com/federal-cour... Federal court temporarily blocks prediction market law in Minnesota after Kalshi and federal regulators challenged felony ban before trial.