Kalshi Sues Illinois Officials Over Prediction Market Restrictions

Prediction markets company Kalshi has sued Illinois officials, including Governor JB Pritzker and Attorney General Kwame Raoul, in the US District Court for the Northern District of Illinois. The firm says legislation signed last week requires prediction market platforms to be licensed in Illinois to offer sports event contracts and “expressly bans sports event contracts” on its platform, and it alleges state gaming board officials “usurped” the Commodity Futures Trading Commission’s authority.

Kalshi argues the law, Illinois Senate Bill 3019, which takes effect July 1, violates federal law and will be “irreparably harmed” if enforced. The company says complying by ceasing to offer sports event contracts would violate the CFTC’s uniformity requirements, damage its commercial interests and force costly technological restrictions whose expenses would not be recoverable if Kalshi ultimately prevails.

United States, Illinois

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