Kalshi Files Lawsuit to Block Minnesota Prediction Market Ban
Tech Kalshi Files Lawsuit to Block Minnesota Prediction Market Ban Crypto prediction market platform Kalshi has sued Minnesota in a bid to block the state law banning prediction markets. This follows the U.S. CFTCs lawsuit, which also seeks to block the law amid the ongoing crackdown against these prediction platforms. Kalshi Sues Minnesota To Block Prediction Market Ban In an X post, legal expert Daniel Wallach revealed that Kalshi has sued Minnesota in federal court following the enactment of a state law that bans certain types of event contracts. The platform is seeking a temporary restraining order and preliminary injunction to block the state from enforcing the law, which is to take effect on August 1st. As CoinGape reported, the U.S. CFTC has also sued Minnesota to block the state law, as it seeks to defend its exclusive jurisdiction over prediction markets. Similarly, the Commission is seeking a preliminary injunction to block the law from taking effect. In its lawsuit against Minnesota, Kalshi argues that the Minnesota law clearly violates the Supremacy Clause because the federal Commodity Exchange Act (CEA) grants the CFTC “exclusive jurisdiction” over event contracts. As such, the platform stated that the state law “impermissibly usurps” the CFTCs exclusive jurisdiction. This development comes amid









