Minnesota has made history by becoming the first state in the nation to criminalize prediction market operations through new legislation.
The groundbreaking law establishes felony penalties for companies such as Kalshi and Polymarket that attempt to operate these controversial betting platforms within state boundaries.
This represents the most comprehensive legislative response to the rapidly growing prediction market industry, going beyond the legal challenges that numerous other states have pursued.
The new statute specifically targets the massively popular services that have drawn scrutiny from regulators across the country, making Minnesota’s approach the most aggressive crackdown to date.
