MN bill to ban prediction markets clears committees, future in House and Senate uncertain

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A LED sphere screen shows information inside the new location of the prediction market online platform Polymarket called "The Situation Room", during its opening day in Washington, DC, on March 20, 2026. (Photo by Théo MARIE-COURTOIS / AFP via Getty (Getty Images)

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ST. PAUL, Minn. (FOX 9) - If you put money down on a prediction that a Minnesota senate committee would approve a ban on prediction markets, you would’ve made some money today.

Minnesota bill aims to ban prediction markets

Big picture view:

The bill heard in two committees on Thursday would stop those websites and apps like Kalshi and Polymarket from operating in Minnesota.

Those apps let you make or lose money predicting everything from the outcome of a baseball game to when the United States will start bombing Iran.

What they're saying:

"There are some horrendous examples of how that's happening," said Sen. John Marty (DFL-Roseville). "And very much one more thing related to it, it causes huge problems with insider trading."

Rep. Emma Greenman (DFL-Minneapolis) echoed the sentiment, saying, "I hope we have an opportunity to do it this year is because in the last year, we have seen the explosion of this."

The bill still isn’t a sure thing to pass in both the House and Senate, but it has bipartisan support and also has support from some of the lawmakers who want to legalize sports betting.