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Minnesota Gov. Tim Walz has signed the nation's first law banning prediction market sites from operating in the state; the CFTC has sued Minnesota in response (www.npr.org)
submitted 5 months ago by to c/law@lemmy.world
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[–] 12 points 5 months ago (3 children)

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.

This is bad

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  • [–] 2 points 5 months ago (2 children)

    No, it isn't. The wording of the law is very narrow, going after VPNs that are being advertised to get around the prediction market ban.

    The section in question states that it's a felony for anyone who "provides supportive services to a prediction market or consumer knowing that the services will be used to identify a consumer's location, transfer funds, or make or process payments for the purpose of allowing consumers to make wagers or to settle wagers made by consumers in violation of this section."

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