Judge blocks Minnesota from enforcing prediction market ban in win for Kalshi, Polymarket

A federal judge blocked Minnesota from enforcing its new law banning prediction markets, allowing Kalshi and Polymarket to continue operating in the state while litigation proceeds.

U.S.

District Judge Katherine Menendez granted the motion for a preliminary injunction on Monday under the request of the Commodity Futures Trading Commission, Kalshi, and Polymarket.

Minnesota lawmakers passed the law earlier this year, prohibiting the creation, operation and advertising of prediction markets in the state.

The law is scheduled to take effect on Aug. 1.