Attorney General Keith Ellison filed a memorandum today opposing the CFTC’s (Commodity Futures Trading Commission), Kalshi’s, and Polymarket’s attempt to supplant the state’s role in regulating gambling in Minnesota by seeking a preliminary injunction that would prevent Minnesota’s bipartisan Prediction Market Statute from going into effect.

"Prediction markets are gambling, plain and simple, and Minnesota has every right to keep predatory gambling out of our communities. States regulate gambling so closely because it can be incredibly addictive and immensely harmful without the proper guardrails. Wrapping an old vice in new technology does not change that fact and it does not change our obligation to protect the people of Minnesota." – AG Ellison