05/21/2026
"We're seeing studies come out that say [the companies] are targeting 18- to 21-year-olds and we are seeing gambling starting younger and younger," Minnesota Rep. Emma Greenman, the Democrat and author of the bill, told ABC News on Wednesday.
Greenman noted that the finalized version of the bill has an exception that allows for weather derivatives.
"We narrowed it down to include and cover these things that don't have the financial utility that companies and markets have been using for years," she said.
"Instead of CFTC using their power to regulate, they are coming after us and not doing their homework," Greenman added.
The federal government sued Minnesota after a state legislators passed a bill that would ban prediction market companies from operating in the state.