"The bill would make it a felony to run, support or promote platforms where people place wagers on how future events will play out, which includes not just operators but also those handling payments, setting odds or advertising the services."
"Lawmakers cast a wide net in defining prediction markets. The proposal covers bets tied to sports, elections, government decisions, court cases, weather patterns and more."
"Supporters say the goal is to stop the spread of loosely regulated gambling activities that could have negative societal impacts."
Minnesota lawmakers are progressing with Senate File 4511, which aims to prohibit prediction market contracts related to various controversial topics. The bill, introduced by Sen. John Marty, has received unanimous approval from the Senate Commerce and Consumer Protection Committee and is moving to the Senate Finance Committee for further review. If approved, it will go to the full Senate and then to the House. The legislation defines prediction markets broadly, including bets on sports, elections, and weather, treating them as unlicensed gambling under state law.
Read at ReadWrite
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