Story perspectives

CFTC Sues Minnesota to Block Prediction-Market Ban

5/20/2026

Summary

CFTC Sues Minnesota

The U.S. Commodity Futures Trading Commission sued Minnesota to block SF 4760, a law banning prediction-market contracts for sports, elections, war, weather, disaster and mention events effective Aug. 1.
CFTC Chairman Michael S. Selig warned the ban would criminalize operators and hurt Minnesota farmers who rely on weather-hedging.
The suit names Attorney General Keith Ellison, Minnesota Department of Public Safety and Jon Anglin as defendants, making Minnesota a state the CFTC has sued.

Summary

CFTC Challenges Ban

The law’s scope exceeds any earlier state attempt to criminalize CFTC-regulated markets.
An Arizona federal court issued a preliminary injunction blocking the state’s similar prediction-market ban.
The CFTC, which says the ban overturns a 50-year-old federal framework, filed amicus briefs in the Sixth and Ninth Circuits and Massachusetts Supreme Judicial Court.
Minnesota worries the ban could disrupt its agricultural risk-management tools.

1 of 2

CFTC Sues Minnesota

The U.S. Commodity Futures Trading Commission sued Minnesota to block SF 4760, a law banning prediction-market contracts for sports, elections, war, weather, disaster and mention events effective Aug. 1.
CFTC Chairman Michael S. Selig warned the ban would criminalize operators and hurt Minnesota farmers who rely on weather-hedging.
The suit names Attorney General Keith Ellison, Minnesota Department of Public Safety and Jon Anglin as defendants, making Minnesota a state the CFTC has sued.

1 / 2