In a mixed day for prediction market litigation, Kalshi, Polymarket, and the Commodity Futures Trading Commission (CFTC) secured a big win in Minnesota Monday, but Kalshi suffered a major defeat in New York hours later.
Prediction markets will remain legal in Minnesota for now, as the U.S. District Court for the District of Minnesota issued an injunction to stop a ban from going into effect. However, Kalshi is at risk of having to block all customers in New York, as the U.S. District Court for the Southern District of New York rejected an emergency bid for an injunction pending appeal.
