- After a bill to prohibit prediction markets in Minnesota did not pass through the House, legislators are making a second push at it with an amendment to a public safety bill.
- The new bill has passed through the House and Senate but must be approved with new changes, including language to limit prediction markets.
MINNEAPOLIS – Prediction markets have slowly become a mainstay in the sports betting world, but many states continue to fight back against these markets, including Minnesota.
After Senator John Marty’s bill targeting prediction markets stalled in the House, an amendment was made to an omnibus public safety policy bill to include language from Marty’s bill that would prohibit prediction markets for certain events.
The omnibus public safety bill, SF 4760, has already passed the House and the Senate and was on track for a conference committee. Now, the House and Senate will have to approve of any changes made to the bill before it can be signed into law by Governor Tim Walz.
Some of the markets that would be prohibited if the amendments are approved include:
- Any sporting event
- Any card or dice games
- Whether a person will make a specific statement
- War or state / national emergencies, disasters, public health crises
- Elections (federal, state, local)
- Pop culture events
There is reportedly bipartisan support for the changes to the bill, though it remains to be seen if both the House and Senate allow for the amendment or if it is struck down once again. As of today, Kalshi and other operators are still able to offer their prediction markets in Minnesota that lawmakers argue too closely resemble legal sports betting, but Marty aims to change that in the near future.
