Minnesota Senate and House pass bills banning certain prediction markets
Updated
Updated · St. Paul Pioneer Press · May 2
Minnesota Senate and House pass bills banning certain prediction markets
9 articles · Updated · St. Paul Pioneer Press · May 2
The Senate approved SF 4511 by 56-10, a week after Senator Matt Klein admitted betting $50 on his own 2025 primary race and receiving a five-year Kalshi ban.
Lawmakers said the measures target insider trading and unregulated online gambling, while critics questioned whether the language is too broad and could conflict with federal CFTC authority.
Debate also centred on possible effects on farmers' risk-management tools and tribal gaming revenues, with House support still uncertain despite a separate ban passing in its public safety bill.
As states ban prediction markets, will federal regulators' approval ultimately win?
Are prediction markets a wise forecasting tool or just a new casino?