The Commodity Futures Trading Commission (CFTC) announced Tuesday it filed a lawsuit against the state of Minnesota, just one day after Gov. Tim Walz took “action approval” on SF 4760, a massive public safety bill restricting prediction markets. Language to prohibit sports event contracts and those covering wars, elections, and numerous other aspects takes effect Aug. 1 in the new law.
Semafor reported in early May that CFTC Chair Michael Selig was “monitoring” the situation, and his agency didn’t waste any time adding Minnesota to its list of defendants.
