Minnesota just drew a line in the sand that no other state has been willing to draw. The state has enacted the first law in the US explicitly banning the majority of prediction markets, including crypto-native platforms like Polymarket and federally regulated ones like Kalshi.
The ban was tucked into SF 4760, the state’s Public Safety Policy Bill, and it passed the Minnesota Senate with a lopsided 56-10 vote.
What the law actually does
The statute prohibits betting on prediction markets across a broad swath of topics: sports, politics, culture, and more. It doesn’t just target participants. It goes after the platforms themselves.
Creating or managing a prediction market platform in Minnesota is now a felony. The law also covers hosting, operating, and advertising prediction market gambling within the state’s borders.
