SF 4511 would prohibit most bets on prediction platforms.
US.- A Minnesota bill that would ban most bets on prediction platform markets is to advance to a Senate floor vote. SF 4511 would ban bets on topics such as the weather, court cases, events in popular culture and the outcome of an election.
Sen. John Marty, the main sponsor of the bill, said: “Kalshi now claims it’s the first nationwide legal sports betting app, and we would argue it’s not in compliance with our laws.”
Several states have taken steps to ban prediction platforms, considering them to be offering gambling without a licence. There are also growing concerns around insider trading. Earlier this month, Kalshi said it had found that three political candidates in the US had placed bets on their own campaigns, against company rules.
https://focusgn.com/minnesota-bill-to-ban-prediction-markets-advances-in-senate