A U.S. federal judge has blocked Minnesota from enforcing a law that would have banned prediction markets like Kalshi and Polymarket. The ruling by U.S. District Judge Katherine Menendez comes as a significant relief for these platforms, which faced potential criminal charges under the new law. This legal win underscores the ongoing debate surrounding the regulation of prediction markets, as detailed in WuBlockchain’s tweet.
The recent legal ruling represents a pivotal moment for Kalshi and Polymarket as the broader crypto market exhibits mixed signals. The Minnesota law aimed to impose strict regulations that would criminalize the operation of prediction markets, a first in the U.S. Judge Menendez’s preliminary injunction indicates a strong likelihood that federal law preempts this state measure, allowing Kalshi and Polymarket to continue their operations without interruption. This ruling not only protects these platforms but could also influence regulatory approaches in other states.
Kalshi is a regulated prediction market platform that allows users to trade on the outcomes of future events, while Polymarket operates similarly in the space of event-based trading. The Minnesota law aimed to categorize these platforms as unlicensed gambling operators, which prompted a lawsuit from both Kalshi and Polymarket, supported by the CFTC.
Traders should keep a close eye on how this ruling may impact future state regulations around prediction markets. As this legal battle unfolds, there is potential for increased scrutiny and legislative changes in other states. The success of Kalshi and Polymarket may encourage other platforms to pursue similar legal challenges, potentially reshaping the landscape of prediction markets in the U.S.
The post Kalshi and Polymarket Secure Legal Protection Against Minnesota Law appeared first on Coinfomania.
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The Hong Kong Monetary Authority (HKMA) has launched a framework to assess banks’ preparedness for quantum-computing threats as the city expands its use of tokenized deposits, digital assets and blockchain settlement. On Monday, the HKMA introduced a white paper on quantum preparedness and the sector’s first Quantum Preparedness Index (QPI). The index gave the sector an overall readiness score of 2.3 out of 10, while the white paper found that around half of surveyed institutions had no formal post-quantum planning in place. The HKMA said it aims to achieve full sector readiness, represented by a QPI score of 10, by 2030.The development comes as Hong Kong moves more traditional financial activity onto distributed ledgers. Government figures show that Hong Kong has issued three batches of tokenized green bonds totaling about HK$16.8 billion (about $2.1 billion) since 2023, while the HKMA is advancing tokenized deposits and digital-asset settlement through Project Ensemble. The HKMA white paper said distributed ledger applications and payment networks depend on cryptography for core functions and could face severe disruption if those protections were compromised. It also said one surveyed institution completed a proof of concept applying post-quantum cryptography to distributed-ledger connectivity and cited HSBC’s 2024 use of quantum-safe technology to move tokenized gold across distributed ledgers.Hong Kong’s tokenization push raises quantum stakesThe quantum initiative follows the launch of the HKMA’s Fintech 2030 strategy in 2025, which made tokenization one of four strategic pillars in a plan comprising more than 40 initiatives.The regulator said it would accelerate real-world asset (RWA) tokenization, regularize tokenized government bond issuance and explore tokenized Exchange Fund papers, with blockchain settlement supported by e-HKD, tokenized deposits and regulated stablecoins. Related: Hong Kong launches initiative to help banks with DLT adoptionIn a Feb. 11, 2026, speech, Hong Kong Financial Secretary Paul Chan said banks in Hong Kong held more than HK$14 billion (about $1.785 billion) in digital assets under custody at the end of 2025, up about 180% year over year, while tokenized deposits had reached HK$29 billion ($3.7 billion).According to the HKMA white paper, quantum computers capable of running Shor’s algorithm at scale could eventually break widely used RSA and elliptic-curve cryptography. This could allow attackers to decrypt protected data or forge the digital signatures used to authorize transactions, verify identities and establish trust in financial systems.Because replacing embedded cryptographic systems can take years, the HKMA urged banks to begin inventories, risk assessments and migration planning before such machines become available.Magazine: Ethereum’s EEZ could pull other blockchains into its orbit
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