Add Illinois Bill Aims to Regulate, Tax Prediction Markets

Illinois-Bill-Aims-to-Regulate%2C-Tax-Prediction-Markets.md

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+<br>An Illinois lawmaker wants to force prediction market platforms to be [licensed](https://quilombo-libros.com/blog/6_presentacion-del-libro-personajes.html) and pay state taxes.<br>
+<br>- SB 4168 would give  power to go after "illegal" prediction market platforms.<br>
+<br>- Trading [exchanges](https://haphicraft.com/author/belindacilley5/) would have to pay the state 50% of their adjusted gross revenue.<br>
+<br>- Another Illinois bill is also looking to regulate prediction [markets](http://git.sinoecare.com/lachlanseiler).<br>
+<br>Sen. Michael Hastings introduced the Prediction Market Regulation and Taxation Act on Thursday, a bill that would require trading exchanges that offer event contracts to obtain a "master" licesne after paying a $1-million annually renewable fee.<br>
+<br>Under SB 4168, [prediction companies](http://gdnews.co.kr/bbs/board.php?bo_table=free&wr_id=142706) would have to pay the state 50% of their adjusted gross revenue, and the proposed law would also charge unlicensed [operators](https://sswiwi.com/index.php?route=journal3/blog/post&journal_blog_post_id=7) with illegal gaming.<br>
+<br>[Illinois regulators](http://www.annunciogratis.net/author/willardrobb) would have the power to [deliver cease-and-desist](http://git.yinas.cn/teenadeniehy46/the-bet-9ja-promotion-code-this-2026-is-yohaig/wiki/The-Betnaija-promotional-code-2026-is-YOHAIG) orders, civil penalties, or referral for criminal prosecution. The Illinois Gaming Board would also be able to revoke licenses.<br>
+<br>Prediction markets like Kalshi and Polymarket believe they have the right to operate in 50 U.S. states while regulated federally by the Commodity Futures Trading Commission.<br>
+<br>Other attempt<br>
+<br>This is the second legislative action taken by Prairie State lawmakers this year. HB 5059 was [introduced](https://himalayakihariyali.com/2024/03/23/congress-announced-candidates-on-two-seats-approved-the-names-of-virendra-rawat-from-haridwar-and-prakash-joshi-from-nainital/) in the House by Rep. Edgar Gonzalez Jr. in February.<br>
+<br>The ORACLE Act proposes oversight and [regulations](https://clone-deepsound.paineldemonstrativo.com.br/nybestelle9714) of prediction markets, [including](http://vacuflo.eu/smartblog/6_funzionamento-aspirapolvevere-centralizzato.html) an age requirement, bans on certain types of markets, and responsible gaming measures.<br>
+<br>That bill had its first reading Feb. 10 and was [referred](https://27.191.237.113/corneliuspicha/the-bet9ja-promo-code-this-2026-is-yohaig/wiki/The+BET+9JA+promotion+code+2026+is+YOHAIG) to the Gaming Committee on Wednesday.<br>
+<br>Not alone<br>
+<br>Illinois is taking aim at prediction market sites at a time when other states and even Congress is asking for more regulation of event contract exchanges, including ones that offer sportsbook-like markets on the NFL, MLB, NBA, college sports, and other sports that are licensed and regulated in the Prairie State.<br>
+<br>Prediction market platforms are involved in legal battles in several states, including Nevada and Massachusetts. States with legal sports betting are attempting to keep trading exchanges from offering sports contracts.<br>
+<br>Prediction markets have exploded over the last year. Not only have Kalshi and [Polymarket grown](https://gratisafhalen.be/author/chana96t843/) in popularity, but big-name sports betting brands DraftKings and FanDuel entered the [trading exchange](https://dc-engineering.cz/2018/08/02/ahoj-vsichni/) space with [platform launches](https://caneparealty.com/index.php/agent/thorstene89190/) in late 2025.<br>