Kalshi has established a partnership with Brazilian brokerage firm XP International to launch its prediction market in the country, which will be the operator’s first...
Minnesota to ban prediction markets and sweepstakes casinos
On March 16, 2026, Minnesota lawmakers introduced two bills against prediction market platforms and online sweepstakes casinos in an effort to prohibit both.
Senate File 4511 aims to add changes in Minnesota’s current gaming laws to include criminal prohibitions for offering prediction markets in the state, covering businesses that allow buying, selling, or trading financial bets based on future outcomes. If the bets are placed on sports, casino games, political results, or disasters, then they would be classified as a felony.
The bill also includes restrictions on advertising, such as banning promotion during live sports broadcasts, daytime and evening TV programs, or on channels where most of the audience is under 21. In case of violations, both individuals and companies could face a prohibition of up to 10 years on getting gaming-related licenses in Minnesota.
The lawmakers are proposing to apply the changes on August 1, 2026.
The second bill, Senate File 4474, targets sweepstakes casinos and proposes banning any person or business from operating, promoting, or conducting online sweepstakes games available in Minnesota, defining sweepstakes as internet or mobile products that mix simulated gambling mechanics with a dual-currency structure, letting users compete for real-world rewards.
Banks, platform providers, media partners, or other assistants who help to provide these games may also face sanctions if they knowingly support the operations, as the bill proposes. Breaches of the rules would lead to penalties based on the Minnesota consumer protection law.
Two U.S. senators, Jeff Merkley and Amy Klobuchar, introduced a new bill on March 5, 2026, called the End Prediction Market Corruption Act, to fight against federal officials...
