Oklahoma Override, Minnesota Prediction Market Ban Lead This Week’s Gambling Bills That Mattered

This past week marked another busy legislative week led by the Oklahoma Legislature overriding Gov. Kevin Stitt’s veto on a sweeps casino ban, Minnesota passing a prediction market ban, and Louisiana passing a second bill targeting sweeps casinos.

Here are the bills that mattered this week.

Sweepstakes Casino Ban Bills

Oklahoma Legislature Overrides Governor’s Veto of Sweepstakes Ban

Oklahoma lawmakers voted to override Gov. Kevin Stitt’s veto of SB 1589, officially enacting a ban on “online casino games” where users risk “representative of value”, which includes dual-currency systems used by sweeps casinos.

Stitt had vetoed the bill last week, arguing that “it criminalizes everyday apps people use for fun” and the bill’s “vague and overbroad approach creates uncertainty for businesses operating in good faith and discourages innovation and investment in our state.”

Both chambers overrode his veto, with the House collecting exactly the 68 votes needed for a two-thirds majority. The chamber had previously passed the measure with 68 affirmative votes, meaning three additional lawmakers voted in favor of the override.

SB 1589 becomes law on November 1, 2026.

Why it matters

Oklahoma is now the third state to enact a law in 2026 targeting the dual-currency system used by sweepstakes casinos, following Indiana and Maine.

Tennessee Formally Sends Sweeps Ban Bill to Governor

The Tennessee legislature officially sent SB 2136 to Gov. Bill Lee this week, after passing it at the end of April and formally transmitting it.

The bill would prohibit “online sweepstakes games” that utilize virtual currency systems to allow participants to exchange that currency for cash or cash prizes.

Why it matters:

SB 2136 has formally arrived at Gov. Lee’s desk. If he signs it or allows it to become law without a signature, Tennessee would become the latest state to ban dual-currency platforms.

Louisiana Sends A Second Sweeps-Related Bill to Governor

The Louisiana Senate unanimously passed HB 883 earlier this week after the House passed it in April. The Legislature moved quickly to enroll it and formally send it to Gov. Jeff Landry for consideration.

HB 883 would amend the state’s “gambling by computer” statute to include online and mobile games simulating gambling activity that utilize dual-currency payment systems where players can exchange virtual currency for cash or prizes.

HB 883 arrived after Louisiana lawmakers had already passed HB 53 earlier this session, a separate measure expanding racketeering and enforcement tools that could also be used against illegal gambling operations.

Why it matters

Louisiana lawmakers have now sent two separate measures to battle unlicensed gaming, including sweepstakes casinos. If Gov. Landry signs HB 883, Louisiana could become the fourth state to directly target sweepstakes casinos.

Prediction Market Bills

Minnesota Passes Prediction Market Ban Through Omnibus Package

Minnesota lawmakers passed a public safety omnibus bill containing language banning certain prediction markets.

The prediction market provision was not included in the original version of SF 4760. Instead, the House later amended the bill to insert provisions from a separate, standalone Senate bill before final passage.

The Senate initially rejected the House-amended version, sending the legislation to a conference committee. Lawmakers ultimately retained the prediction market language in the compromise bill before both chambers gave final approval.

The measure now heads to Gov. Tim Walz.

Why it matters

Minnesota could become the first state to pass a ban on prediction markets directly. However, given the CFTC’s recent push to assert federal authority over event contracts, the measure could become part of the broader state-federal legal fight over prediction markets.

Tennessee Sends Prediction Market Bill to Governor

In addition to SB 2136, the Tennessee Legislature sent a bill related to prediction markets to Gov. Lee this week.

SB 1992 creates criminal penalties for prediction market manipulation and for insider trading-related conduct involving event contracts.

Why it matters

Tennessee is one of the first states attempting to directly address prediction market integrity risks through standalone legislation.

New Federal Bill Targets Political Prediction Market Insider Trading

U.S. Reps. Ritchie Torres and Seth Moulton introduced the Campaign Event Contract Integrity Act. This new federal legislation would prohibit campaign staff and political insiders from trading on political prediction markets using nonpublic information.

The proposal follows growing scrutiny surrounding insider trading risks in event contracts, particularly after several high-profile geopolitical and election-related prediction market controversies.

Earlier this week, the House Committee on Oversight and Government Reform chairman, Rep. James Comer, confirmed that the committee has begun collecting information on suspicious trades on prediction markets tied to geopolitical events, signaling a potential congressional probe into insider trading in the sector.

Why it matters

Torres and Moulton’s bill adds to a growing number of federal bills in both chambers of Congress that aim to prohibit insider trading and speculation in prediction markets.

Wisconsin Governor Signs Executive Order on Prediction Market Insider Trading

While not legislation, Wisconsin Gov. Tony Evers signed an executive order prohibiting state employees from using insider government information to trade on prediction markets.

Wisconsin now follows California, Illinois, and New York, where the governors have signed similar executive orders.

Why it matters

The executive order highlights the growing concern about the integrity of prediction markets at the state and federal levels.

Responsible Gaming

Colorado Finalizes Responsible Gambling Bill

Colorado lawmakers finalized SB 131 after the Senate concurred with House amendments and passed the bill through the Legislature.

The measure focuses on responsible gambling protections and sportsbook operational standards.

Earlier versions of the bill included a proposed ban on certain prop bets and prohibited sportsbooks from limiting sharp bettors, although lawmakers later removed those provisions during the legislative process.

The final bill still includes provisions such as:

• Ban sportsbooks from sending push notifications and text messages soliciting bets or deposits
• Limit the number of deposits a player can make each day
• Require operators to share anonymized data with regulators
• Restrict youth-adjacent advertising
• Ban credit card deposits

The bill now heads to Gov. Jared Polis’ desk.

Why it matters

If Polis signs the bill, Colorado would become the first state to prohibit push notification or text message solicitations by operators and to limit the number of daily deposits users can make.