The CFTC is suing Minnesota and Gov. Tim Walz over a ban on prediction markets like Polymarket and Kalshi, set to take effect in August.
Minnesota is trying to ban prediction markets, but the CFTC is putting up a fight.
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Minnesota is the first state to sign off on a ban on prediction markets like Kalshi and Polymarket.
But a government agency is fighting the ban, suing Gov. Tim Walz for signing the bill.
Prediction markets have faced backlash from lawmakers who say they enable insider trading and gambling.
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Minnesota is battling the Trump administration over prediction markets.
