The feds argue they have primary authority to regulate the popular markets, not the states. Illinois says the move puts profits over people.
prediction markets
Posted inInvestigations
Illinois Regulators Say Prediction Markets Are Illegal Gambling, But Bettors — and the Trump Family — Love Them
Prediction market platforms like Kalshi and Polymarket rake in millions from wagers on sports and current events but pay nothing in state betting taxes and ignore regulations that govern online sportsbooks.
Posted inInvestigations
Prediction Markets Up Against Illinois’ Century-Old Gambling Law in Series of Lawsuits
Class-action lawsuits against prediction market platforms like Polymarket and Kalshi seek to make the financial giants pony up for bettors’ losses in Illinois and other states. The platforms continue to argue what they’re doing is perfectly legal.
