Bitcoinist 2026-05-28 19:17:45

Kalshi Sues Minnesota Over New Law Blocking Prediction Markets

Kalshi has ramped up its battle over prediction markets by filing a lawsuit against the state of Minnesota. The lawsuit challenges a recently passed law that would restrict most prediction market activity and impose criminal penalties on certain event-based contracts. Kalshi And Minnesota Clash At the core of Kalshi’s lawsuit is its jurisdiction argument. The company contends that prediction markets fall under exclusive federal oversight through the Commodity Futures Trading Commission (CFTC), rather than being governed by state gambling laws. Kalshi says its event contracts should be treated as federally regulated financial products, not traditional betting. In the company’s view, that means Minnesota cannot simply outlaw or criminalize the activity through state legislation. Minnesota lawmakers take the opposite position. They characterize sports and event-based contracts as a form of gambling that should remain under state control, particularly because, in their view, the products operate outside existing consumer protection and gambling regulations. Rather than focusing on civil enforcement or narrower product restrictions, the new law includes criminal penalties for users or businesses operating, promoting, or facilitating certain prediction market products. Supporters of the bill argue that prediction market platforms function similarly to sportsbooks, but operate in a legal gray area without meeting the standards they believe should apply to gambling businesses. Probe Triggered By Suspicious Trades Supporters of the legislation have also pointed to risks they say the industry has not adequately addressed. Those concerns include potential addiction impacts, the possibility of insider trading, and the increasing overlap between financial-style trading behavior and gambling-like outcomes. The Minnesota lawsuit also arrives amid scrutiny from federal lawmakers. As Bitcoinist reported earlier this month, Representative James Comer, Chairman of the House Oversight and Government Reform Committee, announced a formal investigation into Polymarket and Kalshi on May 22. In that probe, Comer said he wants the CEOs of both companies to explain how their platforms detect and prevent insider trading. The investigation was triggered by a series of suspicious trades tied to classified US military operations and geopolitical events. Featured image from Bloomberg; chart from TradingView.com

La maggior parte ha letto le notizie

AI Agents Are Learning to Predict What Users...
2026-05-28
Aave Secures FCA Approval for UK Crypto Opera...
2026-05-28
Sui Network Goes Down for Hours, Just Months...
2026-05-28
XRP price stuck at $1.33 under $2.26B liquida...
2026-05-28
XRP Just Got a TD Sequential Buy Signal. Here...
2026-05-28
Crypto trading firm FalconX confidentially fi...
2026-05-28
USAT supply surges 540 percent in April to $1...
2026-05-28
Apple iOS 27 Leaks: Siri Is Being Remade to B...
2026-05-28

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta