Illinois appeals to Seventh Circuit after judge blocks prediction markets law
Photo: SBC Americas
KEY TAKEAWAYS Illinois is barred from enforcing its event contracts licensing and taxation law for the time being. A federal judge granted preliminary injunctions to parties including Kalshi, the CFTC, and Coinbase, who sued the state over its attempted enforcement measures against prediction markets. Illinois officials appealed to the Seventh Circuit, where the Illinois cases join two separate prediction markets appeals in Wisconsin. A new federal court preliminary injunction blocks Illinois from enforcing the prediction markets licensing and tax law state legislators passed in June. In an order issued Friday, Oct.
Source: SBC Americas
