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Committee refers bill to ban unregulated prediction markets to commerce committee
Summary
Lawmakers heard sponsor and faith‑group testimony on House File 4437, which would define and criminalize unregulated online prediction markets; members debated tribal authority, exemptions for private brackets and ethical concerns about betting on tragedies.
A sponsor presented House File 4437 to define and restrict prediction markets — online platforms that allow bets on future events — arguing they functionally create unregulated sportsbooks that circumvent Minnesota’s gambling framework, lack age and anti‑money‑laundering safeguards, and can be manipulated by insiders.
Leah Patton, executive director of the Joint Religious Legislative Coalition, testified in favor, saying prediction markets pose a danger to young people and exploit vulnerabilities through targeted advertising. Committee members pressed staff and the sponsor on whether the bill would affect tribal gaming compacts and whether private bracket pools (for example, March Madness office pools) would be exempt; the sponsor said the bill preserves existing private‑pool exemptions and does not change tribal compact authorities but acknowledged complex legal questions.
After extended member discussion on ethics and jurisdiction, Representative Freeman moved to refer the bill, as amended, to the Commerce Finance and Policy Committee; the motion carried by voice vote.
