Illinois ORACLE Act regulates prediction market platforms, prohibiting certain markets and requiring responsible gaming measures.
The Illinois ORACLE Act regulates prediction market platforms, prohibiting markets on catastrophic events, politics, deaths, securities, and athletic events. It mandates responsible gaming measures, including self-exclusion options, time limits, and problem gambling detection. The Act restricts advertising, requiring the Illinois Gambling Help Hotline number in all ads. It prohibits credit-based products and gift certificates, and mandates age restrictions, barring users under 21. The Act also outlines penalties for violations and empowers the Attorney General to enforce compliance.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.