Recently, as the Minnesota state government signed a bill prohibiting the use of prediction markets within its jurisdiction, the prediction market platform Kalshi filed a lawsuit against the state government, The Block reported. Kalshi claimed that the state government, including Governor Tim Walz, violated a provision granting 'federal law supremacy' in any dispute resolution. Meanwhile, the Minnesota governor had signed a bill prohibiting prediction market activities within the jurisdiction in early May, and at that time, the Commodity Futures Trading Commission (CFTC) and the U.S. Attorney's Office had filed a nullification lawsuit against the state government and the governor.
