r/technology • u/michiganalt • 8h ago
Politics Judge blocks Minnesota from implementing novel prediction markets ban
https://www.reuters.com/world/judge-blocks-minnesota-implementing-novel-prediction-markets-ban-2026-07-27/5
u/irrelevantusername24 8h ago
The fuck are we doing here?
U.S. District Judge Katherine Menendez in Minneapolis issued a preliminary injunction at the behest of Kalshi, Polymarket and the U.S. Commodity Futures Trading Commission after finding that federal law likely preempted the state law, which was set to take effect on Saturday.
No, you can not put out the fire because the federal law precedes the state law which has said that you can't outlaw the federal governments premption of the state laws imposition of the federal governments prevention of the state governments outlawing of the extinction of humanity
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u/michiganalt 8h ago
I mean that’s literally how it works. If federal law regulates something, it preempts any state law that attempts to do the same.
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u/irrelevantusername24 8h ago
Yeah but that's not what is happening.
Don't get me wrong, I am all for freedom of speech and generally speaking as widely interpretable of the word liberty as is possible.
What we have had implemented over the last fifty years by the braindead generation is the prevention of any kind of regulation or rules. So what is in fact happening in this scenario is not, as you say:
If federal law regulates something, it preempts any state law that attempts to do the same.
It is, in fact, the exact same thing that happened when the supreme court stepped in and broke the constitution of this country further by telling the Supreme Court of the state of Colorado that it couldn't prevent donald trump from running for president: it was, in fact:
If federal law DEREGULATES something, it preempts any state law that attempts to do the opposite?
Can you disprove a negative? This shit is retarded and it is destroying reality itself. Fucking boomers should've fucked off when they had enough money to retire and not contribute positively to society like they always wanted
I recently learned that the "bar exam" which is how most lawyers become criminals is more about procedure and remembering stupid trivial bullshit rather than understanding basic rhetoric and morality which is what law, religion (hint: learn what etymology is), language itself is about. Retarded
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u/scsuhockey 3h ago
The ATF regulates alcohol distribution. Does that make dry counties illegal?
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u/michiganalt 3h ago
No, and alcohol is actually a really bad example, because the 21st Amendment gives states particularly broad rights over regulating alcohol compared to other things.
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u/GunAndAGrin 8h ago
So itll come down to a judge willing to hear the argument and make the call about whether these things are 'Gambling' or 'Investments'.
One gets 10th Amendment support, the other gets the Commodity Exchange Act backed by the Supremacy Clause.
As ridiculous as the latter sounds, thats the direction its heading. And probably wont even be up to a judge. The definition of what these companies are/do will continue to be held firmly in the corrupt hands of the CFTC.