Illinois SB4168 regulates prediction markets for non-sports events, imposing licensing, taxation, and consumer protection requirements.
The Prediction Markets Regulation and Taxation Act establishes rules for prediction markets in Illinois, focusing on non-sports events. It requires operators to obtain a master prediction market license from the Illinois Gaming Board, with an initial fee of $1,000,000 and annual renewals at the same amount. The Act imposes a privilege tax of 50% on adjusted gross receipts from qualifying prediction market contracts involving Illinois residents. It excludes sports event contracts and casino-style games from its purview, which remain regulated under other statutes.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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