Timeline: Minnesota Prediction Market Ban Brings Immediate Federal Lawsuit Last Updated: May 20th, 2026 1:12 pm PDT Key Highlights Minnesota’s move to ban prediction markets has quickly triggered a high-stakes legal and political fight over who should regulate the fast-growing industry. The state argues the platforms resemble unlicensed gambling operations, while federal regulators and market operators insist they fall under commodities law rather than state betting rules. Here is a current timeline […]