Minnesota's Prediction Market Ban Sparks Federal Regulatory Battle

Minnesota became the first U.S. state to pass a law banning prediction market platforms Kalshi and Polymarket. The state's move has placed it at the center of a broader national debate over who holds authority to regulate such markets. A federal agency has since filed a lawsuit challenging the ban, which could have far-reaching implications. The outcome of the case may establish a legal precedent determining whether federal or state regulators have jurisdiction over prediction markets.