Minnesota Gov. Tim Walz has signed the nation’s first law banning prediction market sites from operating in the state, the most far-reaching crackdown on massively popular services like Kalshi and Polymarket.

It comes as states confront a growing standoff with the Trump administration over how to regulate the industry, which allows people to bet on virtually anything.

The new state law makes it a crime to host or advertise a prediction market, which it defines as a system that lets consumers place a wager on a future outcome, like sports, elections, weather, live entertainment, someone’s word choice and world affairs.

The prohibition extends to services supporting prediction markets, like virtual private networks, that could allow consumers to disguise their location and get around the ban.

It would force prediction market sites like Kalshi and Polymarket to leave the state, or face possible felony charges. The law takes effect in August.

  • teyrnon@sh.itjust.worksEnglish
    5·
    1 day ago

    Oh right the dead peasants’ insurance thing this is like well after the fact, in like the 00s by walmart.

    I guess I should have just looked it all up how hard could have been.

    From what I understand they would take them out on technical employees fairly often as well, like scientists types that could not be easily replaced. But who knows what dirty dealings have gone on.

      • teyrnon@sh.itjust.worksEnglish
        2·
        1 day ago

        Huh, I wonder if there’s a way we could subpoena the books of the life insurance companies they deal with. Or somehow obtain that information by whatever means.

        Walmart was a very bad company, they still are but I think they were one of the first retail Giants to become totally morally bankrupt.

      • stringere@sh.itjust.worksEnglish
        1·
        1 day ago

        If a Walmart employee dies on Walmart property the family gets a $1,000,000 payout. Source: am spouse of Walmart manager. This applies to all employees as far as I know.