{"id":2605114,"date":"2026-05-20T14:40:57","date_gmt":"2026-05-20T18:40:57","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trump-administration-targets-minnesota-ban-on-prediction-markets\/"},"modified":"2026-05-20T14:43:27","modified_gmt":"2026-05-20T18:43:27","slug":"trump-administration-targets-minnesota-ban-on-prediction-markets","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trump-administration-targets-minnesota-ban-on-prediction-markets\/","title":{"rendered":"Trump administration targets Minnesota ban on prediction markets"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftrump-administration-targets-minnesota-ban-on-prediction-markets%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2605114&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The Trump administration has filed a lawsuit against Minnesota to block the state\u2019s new ban on prediction markets. Gov. Tim Walz signed the law this week, which makes it a criminal offense to operate or advertise certain prediction markets, <a href=\"https:\/\/amzn.to\/3YuVZYV\" >triggering federal legal action<\/a> from the Commodities Futures Trading Commission (CFTC).<\/p>\n<p>The lawsuit argues Minnesota lacks authority to restrict most prediction-market betting as federal regulators-including the CFTC-have jurisdiction. It also claims the ban would disrupt Minnesota\u2019s agricultural sector by criminalizing weather- and crop-related contracts used for hedging risks.  <\/p>\n<p>CFTC Chairman Michael Selig said the law effectively turns prediction-market participants and operators into felons overnight. Minnesota Attorney General Keith Ellison said his office will respond in court. supporters of the ban, including lawmakers who backed the measure, say prediction markets can create conflicts of interest and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-immigration-policies-under-scrutiny-after-migrant-deaths-in-texas\/\" title=\"Biden immigration policies under scrutiny after migrant deaths in Texas\">exploit vulnerable people<\/a>, while major platforms like Kalshi and Polymarket have criticized the law as harmful to competition.  <\/p>\n<p>The CFTC seeks to stop enforcement of the ban before it takes effect on Aug. 1.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<article class=\"fn-body\">\n<p>The Trump administration on Tuesday filed a lawsuit against <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/minnesota\/\">Minnesota<\/a>, seeking to block its new ban on <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/gambling\/\">prediction<\/a> markets. <\/p>\n<p>Gov. <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/tim-walz\/\" type=\"post_tag\" id=\"11523\">Tim Walz<\/a> (D-MN) signed a controversial bill into law earlier this week that imposes criminal penalties for operating or advertising a prediction market in the state. The\u00a0Commodities Futures Trading Commission sued to block its implementation, arguing that the state lacks the authority to ban most bets placed on prediction markets such as Kalshi and Polymarket. The federal government has jurisdiction over prediction markets through the CFTC, the lawsuit states, warning that the law would upend Minnesota\u2019s agricultural industry due to its criminalization of weather-related event contracts.    <\/p>\n<section class=\"explore-more-section\" id=\"wex-recommended-widget\">\n<div class=\"magazine-container single\">\n<h1 class=\"magazine-title mt-2\">Recommended Stories<\/h1>\n<p>             <i class=\"fa-solid fa-play icon\"><\/i>         <\/div>\n<div class=\"explore-grid\">\n<div class=\"explore-card\">                         <a href=\"https:\/\/www.washingtonexaminer.com\/news\/justice\/4575027\/moscow-healthcare-fraudster-sentenced-2-billion-telemedicine-scheme\/?itm_source=parsely-api\">                             <\/p>\n<div class=\"explore-thumb-wrap\">                                                                                                                                  <\/div>\n<h3>Member of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/member-of-international-fraud-ring-sentenced-in-2-billion-telehealth-scheme\/\" title=\"Member of international fraud ring sentenced in  ...ion telehealth scheme\">international healthcare fraud ring sentenced<\/a> in $2 billion telemedicine scheme<\/h3>\n<p>                         <\/a>                     <\/div>\n<div class=\"explore-card\">                         <a href=\"https:\/\/www.washingtonexaminer.com\/news\/justice\/4575027\/member-of-international-healthcare-fraud-ring-sentenced-in-2-billion-telemedicine-scheme\/?itm_source=parsely-api\">                             <\/p>\n<div class=\"explore-thumb-wrap\">                                                                                                                                  <\/div>\n<h3>Member of international healthcare fraud ring sentenced in $2 billion telemedicine scheme<\/h3>\n<p>                         <\/a>                     <\/div>\n<div class=\"explore-card\">                         <a href=\"https:\/\/www.washingtonexaminer.com\/news\/white-house\/4573583\/trump-says-wasnt-involved-creating-nearly-2-billion-fund-victims\/?itm_source=parsely-api\">                             <\/p>\n<div class=\"explore-thumb-wrap\">                                                                                                                                  <\/div>\n<h3>Trump says he wasn\u2019t \u2018involved\u2019 in creation of $1.776 billion fund for lawfare victims<\/h3>\n<p>                         <\/a>                     <\/div>\n<\/p><\/div>\n<\/section>\n<p>\u201cThis Minnesota law turns lawful operators and participants in prediction markets into felons overnight,\u201d FTC Chairman Michael Selig said <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/9233-26\">in a statement<\/a>. \u201cMinnesota farmers have relied on critical hedging products on weather and crop-related events for decades to mitigate their risks. Governor Walz chose to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/republican-announces-california-gubernatorial-run-as-newsom-recall-nears-threshold\/\" title=\"Republican Announces California Gubernatorial Run as Newsom Recall Nears Threshold\">put special interests<\/a> first, and American farmers and innovators last.\u201d<\/p>\n<div class=\"article-paywall\">\n<p>Minnesota Attorney General Keith Ellison said his office would respond in court. <\/p>\n<p>\u201cPrediction markets are designed to be addictive and prey especially on young people and low-income folks,\u201d he told <em>Reuters<\/em>. \u201cThey help the ultra-rich get richer, and the rest of us get poorer.\u201d<\/p>\n<p>Walz signed the bill into law after the Minnesota state senate passed the measure on April 30, 56-10. Democratic state Sens. John Marty and <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/news\/campaigns\/congressional\/4539663\/kalshi-political-candidates-platform-pritzker-ban\/\">Matt Klein<\/a> spearheaded <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.revisor.mn.gov\/bills\/94\/2026\/0\/SF\/4511\/\">SF4511<\/a>, a bill they framed as necessary to stop prediction markets from skirting Minnesota\u2019s gambling regulations. <\/p>\n<p>\u201cPeople of both parties, people who are pro-gambling and anti-gambling together, can recognize that the prediction markets are ripe for conflict of interest, things from insider trading for politicians, for others,\u201d Marty <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.cbsnews.com\/minnesota\/news\/prediction-market-ban-passes-minnesota-senate\/\">told <\/a>WCCO. \u201cIt\u2019s a huge thing ripe for scandal. And it\u2019s gone out of control.\u201d<\/p>\n<p>Major prediction markets such as Kalshi and Polymarket have slammed the law, calling it a blow to free competition and counter to government regulations.<\/p>\n<p><a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/news\/justice\/4546728\/soldier-charge-maduro-raid-bet-plea\/\"><strong>SOLDIER CHARGED WITH MAKING OVER $400,000 ON MADURO RAID BET PLEADS NOT GUILTY<\/strong><\/a><\/p>\n<p>CFTC\u2019s lawsuit seeks to halt enforcement of the law before it is set to take effect on Aug. 1. <\/p>\n<p>\u201cIf Minnesota\u2019s law is permitted to go into effect, the exchanges that offer these longstanding contracts\u2014as well as those who partner with them\u2014can be prosecuted as felons,\u201d the lawsuit reads, arguing that Minnesota\u2019s law amounts to a \u201cmassive short-circuiting\u201d of the CFTC. \u201cThis flagrant and unprecedented incursion into the Commission\u2019s exclusive regulatory sphere must be preliminarily and permanently enjoined.\u201d<\/p>\n<\/div>\n<\/article>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Trump files suit to halt Minnesota\u2019s new prediction market ban<\/p>\n","protected":false},"author":3142,"featured_media":2605115,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2026\/05\/AP26063643463517.jpg?w=696","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[41259,5698,44418,80019,32640],"class_list":["post-2605114","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-financial-policy","tag-minnesota","tag-prediction-markets","tag-regulatory-crackdown","tag-trump-administration"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2026\/05\/AP26063643463517.jpg?w=696","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2605114","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/3142"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2605114"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2605114\/revisions"}],"predecessor-version":[{"id":2605122,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2605114\/revisions\/2605122"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2605115"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2605114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2605114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2605114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}