A bill that would ban most wagers on prediction platform markets is set to advance to a Minnesota Senate floor vote after controversy involving a state senator who placed a bet on his own primary race for Congress.
The bill, which has cleared a key Senate committee, would classify trades on areas such as the weather, popular culture, court cases, and election outcomes as illegal.
Supporters of the ban argue that prediction market platforms, like Kalshi and Polymarket, are operating outside of Minnesota’s gambling regulations.
“Kalshi now claims it’s the first nationwide legal sports betting app and we would argue it’s not in compliance with our laws,” Minnesota Sen. John Marty, the primary sponsor of the bill, told CBS News.
