What to know : Prediction market platform Kalshi sued Minnesota in federal court to block a new state law that would criminalize operating, hosting or promoting such markets beginning Aug. 1. Kalshi argues the law is unconstitutional, saying it intrudes on the CFTC’s exclusive federal authority under the Commodity Exchange Act and unlawfully restricts advertising in violation of the First Amendment. The lawsuit comes as prediction markets face mounting global scrutiny, including recent bans in several countries and a U.S. House investigation into whether government employees are trading on nonpublic information.
Prediction market Kalshi filed a federal lawsuit against a Minnesota bill to criminalize operating, hosting or promoting such a platform in the state starting Aug. 1.
The filing follows a motion filed by the Commodity Futures Trading Commission (CFTC) on May 19, the day after the law was signed by Governor Tim Walz, arguing that the legislation violated the U.S. Constitution by criminalizing at the state level the operation of prediction markets governed by federal regulators.
In its filing, Kalshi claimed the law violates the Supremacy Clause of the constitution, which says the federal Commodity Exchange Act (CEA) grants the CFTC “exclusive jurisdiction” over derivatives and swaps traded on designated contract markets (DCMs).
The platform also challenged a provision that criminalizes the marketing or advertising of prediction markets, saying it violated the First Amendment.
On Wednesday, U.S. President Donald Trump said it was critically important that the CFTC maintain sole authority over prediction markets, echoing CFTC Chair Michael Seligl.
Kalshi has recently won similar preliminary injunctions against enforcement attempts in New Jersey and Arizona.
Prediction markets are facing challenges outside the U.S. and in the past week have been banned in countries including Indonesia, Spain and India.
The U.S. government is conducting a probe into prediction markets, with a House of Representatives committee investigation being confirmed last week.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
