Minnesota bans prediction market sites

NPR - Minnesota Gov. Tim Walz has signed the nation's first law banning prediction market sites from operating in the state. The Trump administration has initiated a lawsuit in response, preparing for a legal battle over the crackdown on popular platforms such as Kalshi and Polymarket. This new state law makes it illegal to host or advertise prediction markets, which it defines as systems that allow consumers to wager on future outcomes, including sports events, elections, live entertainment and global affairs. The prohibition would force prediction market platforms to exit the state or face potential felony charges. The law will take effect in August.