Minnesota Moves to Ban Prediction Markets as FanDuel Faces Arbitration

Minnesota is on the brink of banning prediction markets as lawmakers have sent a bill to Governor Tim Waltz. The bill, SF SF 4760, aims to prohibit prediction markets in the state. Governor Waltz has the power to either sign it into law, which would come into effect in August, or veto it.

Meanwhile, a case involving Amit Patel, a former Jackson Jaguars’ employee, has been sent to arbitration. Patel had sought to bring FanDuel to court, but a federal judge ruled that the dispute should be settled through arbitration, as it involves interpreting the terms and conditions between the parties.

DraftKings has reported significant profits for its sportsbook business, marking the first time the company has achieved profitability. The company reported $21m in profit for the first quarter of 2026, with a 17% revenue increase from the same period last year. DraftKings CEO Jason Robins highlighted the company's strong performance and expressed optimism about its prospects in the prediction market vertical.