Minnesota Attorney General Keith Ellison, listens during a House Committee on Oversight and Government Reform hearing on oversight of fraud and misuse of Federal funds in Minnesota, Wed., March 4, 2026, on Capitol Hill in Washington. Seated left is Gov. Tim Walz, D-Minn. (AP Photo/Rod Lamkey, Jr.)
ST. PAUL, Minn. (KFGO/Learfield) – Minnesota Attorney General Keith Ellison is defending the state’s new law banning prediction markets, arguing they are a form of gambling that should remain under state regulation.
In a court filing Thursday, Ellison opposed efforts by the federal government and prediction market companies, including Kalshi and Polymarket, to block Minnesota’s bipartisan law from taking effect.
Ellison says the platforms allow people to wager on sports, elections, and other events, creating risks of addiction, market manipulation, and misuse of insider information.
The companies argue prediction markets fall under federal oversight, setting up a legal battle over whether states can regulate the rapidly growing industry.
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