The law also goes after payment providers and network providers (vpn) etc if they "knowingly" provide service to anyone who engages in prediction market betting.
The law[0] as written is a mess. You could in theory shut down the "legal" Minnesota state lottery that is otherwise carved out from the law by claiming they are providing data on outcomes via the internet if someone outside the state is betting on the outcome of the lottery in a prediction market.
At the very least maybe it would make the advertising (tv, college campuses, etc) of prediction markets illegal in Minnesota?
That alone seems like a good thing.