Prediction Markets Face State-Level Legal Challenges
Prediction market platforms and federal regulators are engaged in legal battles with multiple states over jurisdictional authority and the legality of prediction market operations.
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- CoinDesk5/29/2026, 9:59:39 AMKalshi follows CFTC in suing Minnesota over law criminalizing prediction markets
Kalshi has filed a lawsuit against the state of Minnesota, challenging a state law that criminalizes prediction markets. The suit follows a similar legal action by the CFTC, signaling a broader regulatory and legal battle over the legality of prediction market platforms at the state level. Kalshi is a federally regulated prediction market exchange that has previously clashed with state regulators over jurisdiction.
Sentiment -0.20Sim 95% - Cointelegraph5/28/2026, 10:06:00 PMPrediction markets legal battles heat up in Minnesota, Rhode Island
Kalshi has filed a lawsuit against Minnesota while the CFTC has taken legal action against Rhode Island, both related to state-level regulation of prediction markets. The disputes over jurisdictional authority between federal and state regulators appear to be on a trajectory toward the US Supreme Court.
Sentiment 0.00Sim 91% - Cointelegraph5/13/2026, 5:07:10 AMCFTC backs prediction market Kalshi in appeals court fight against Ohio
The CFTC has filed a brief with the Sixth Circuit Court of Appeals supporting prediction market platform Kalshi, arguing that the agency holds federal jurisdiction over prediction markets. The case pits Kalshi against Ohio state regulators who have challenged the platform's legality. A ruling in Kalshi's favor could affirm federal preemption of state-level regulation for prediction markets.
Sentiment 0.20Sim 92%