Trump Media and Technology Group (TMTG) has announced the termination of its agreement with Crypto.com, under which the operator’s event contracts were set to be integrated...
On July 27, 2026, a federal judge cancelled Minnesota’s SF 3432 from coming into force, which was set to criminalize prediction markets in the state as a first-of-its-kind law in the United States.
The ruling was made by U.S. District Judge Katherine Menendez, who stated that the CFTC, as well as prediction market operators Kalshi and Polymarket, were likely to succeed in their argument that federal regulations preempt state gambling laws. The judge additionally agreed that the law would cause irreparable harm to the companies if it had come into effect.
Kalshi spokesperson Elisabeth Diana commented:
“Minnesota was the first state to pass a law banning prediction markets, and a court prevented it from being enforced less than two months later. Today’s decision makes it clear: States cannot ban things that they don’t have jurisdiction over.”
The law was supposed to become effective on August 1, 2026; however, the court decided that CFTC-regulated designated contract markets can’t be governed by state laws, with the injunction set to stay in force until a final decision is made.
Keith Ellison, the Attorney General of Minnesota, expressed his disagreement with the ruling, stressing that he would continue pushing for state law.
Attorney General Ellison stated:
“Prediction markets are gambling, plain and simple, and Minnesota has every right to keep predatory gambling out of our communities.”
Both prediction operators and the CFTC previously warned in a July 24 letter that they would seek relief from the Eighth Circuit if no court decision was issued before the proposed deadline, but even with the temporary injunction now granted, the sector argued that it would fight to permanently block the law.
