SPRINGFIELD, Ill. – The 2027 state budget for Illinois includes a new and unprecedented change, which would apply a tax to prediction markets in the state. The $56 billion budget includes a tiered tax rate which will apply to prediction markets, implementing a 1.75% tax … Read more
Illinois prediction market regulation became a part of their budget bill. See how Illinois now requires prediction markets to acquire a license.
CHICAGO – Yet another sports betting site has decided to expand into the prediction market space, as Betr, co-owned by Jake Paul and Joey Levy, bought out the rights to a firm registered with the National Futures Association (NFA). After acquiring introducing broker ACM Futures, … Read more
WASHINGTON – On the morning of May 14, 2018, the Supreme Court of the United States handed down Murphy v. NCAA and ended Nevada’s 26-year monopoly on legal sports betting. Eight years later, questions surrounding who would profit and under what rules have been answered… … Read more
SPRINGFIELD, Ill. – For a limited time, FanDuel is waiving their 50-cent fee for all bets for Illinois sports bettors. The sportsbook announced on Thursday that they would be waiving the fee until June 19th, allowing bettors to avoid the 50-cent surcharge that would be … Read more
Michigan proposes a 25–50 cent per-bet tax modeled after Illinois, projecting $38.8 million in annual revenue for Medicaid funding. Illinois saw a 15% drop in betting volume after implementing the same tax as operators passed costs to bettors through fees. Republican legislators and betting operators … Read more
Illinois Rep. Edgar González Jr. filed new legislation to legalize online casino betting with a 25% tax following last year’s unsuccessful attempt. Polymarket faces a court-ordered suspension in Nevada until February 11th after a judge ruled the platform appears to violate state gambling regulations. New … Read more
Rep. Marc Malon has introduced a bill in Maine that would prohibit the use of credit cards for online sports betting. Eight other states have already taken similar measures in an effort to reduce gambling addiction and debt. AUGUSTA, Maine – A new bill has … Read more
State legislators filed three bills in January to stop Chicago’s 10.25% sports betting tax and keep all gambling rules at the state level. City leaders want the tax to fix a $1.2 billion budget gap, but lawmakers say it’ll push bettors to illegal websites instead. … Read more
Chicago is moving forward with a 10.25% sports betting tax to help fill a $1.2 billion budget hole despite major pushback from state lawmakers. Illinois already cranked up sportsbook taxes in 2025, and Chicago’s addition would push the total rate above 54% for city operators. … Read more
Kalshi locked down an exclusive partnership with CNN that’ll bring its prediction market data to the network’s shows and platforms. The company is dealing with lawsuits from several states and a federal case claiming it wasn’t honest about how its trading system actually works. Even … Read more
Illinois became the second state to record at least $1 billion in sports betting tax revenue, after New York. The state implemented the country’s first progressive tax system for sports betting, with rates climbing from 20% to 40%. Most tax revenue flows into Illinois’ general … Read more