Court hands states a win in fight over who regulates prediction markets
Trading of sports event contracts on Kalshi constitutes gambling, appeals court rules in siding with Nevada officials.
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Trading of sports event contracts on Kalshi constitutes gambling, appeals court rules in siding with Nevada officials.
A federal judge has temporarily blocked Minnesota from enforcing its law banning most bets on prediction markets, according to court documents filed on Monday.
A federal judge has temporarily blocked Minnesota from enforcing its law banning most bets on prediction markets, plus more of the day's top stories.
The federal commodities regulator filed suit against Minnesota to stop a new state law, signed by Gov. Tim Walz, that would criminalize operating or participating in prediction markets starting Aug. 1.
The legislation, which passed 56-10, makes wagers on topics like sports, weather, events in popular culture, war and death explicitly illegal.
A bill to ban most bets on prediction markets is ready for a Minnesota Senate floor vote just days after a lawmaker sparked controversy by putting money on his own primary race for Congress.
Prediction markets are getting a lot of attention lately, especially after a Minnesota lawmaker put money on his own race. Now, a bill to ban most of that type of betting is ready for a vote on the state Senate floor. Caroline Cummings looks into the odds of it passing this year.
A Minnesota DFL senator is faced backlash after admitting he placed a bet in his own political race, all while pushing a bill to ban the very same platforms that took his wager.
White House aides got an email last month telling them not to place bets on prediction markets with nonpublic information, multiple administration officials told CBS News.
Both the House and Senate will look at companion bills in committee that would make prediction markets like Polymarket illegal.
