Minnesota Bans Prediction Markets | Duluth News

Duluth News Today | 2 Min News | The Daily News Now! · Jul 29, 2026 · 1m

A federal judge just halted Minnesota’s first-in-the-nation ban on prediction markets like Kalshi and Polymarket, calling it unconstitutional and setting the stage for a major legal showdown over who controls these emerging financial platforms. The surprise ruling, issued as a preliminary injunction, underscores the growing tension between state lawmakers and federal regulators — with both Kalshi and Polymarket quickly declaring victory, arguing that states can’t override federal jurisdiction. Critics, however, see these markets as dangerous gambling fronts that could fuel addiction and…