The Illinois Gaming Board has turn into the newest in the USA to warn towards prediction markets because it points a memorandum.
The statement has are available in response to latest inquiries concerning prediction markets, together with purported sports activities occasion contracts. These questions have prompted the regulatory board to reconfirm its place on the subject.
Some information: I hadn't seen this reported but, however late final week Illinois regulators advised gaming licensees within the state (cough, cough DraftKings, FanDuel) that stepping into prediction markets might influence suitability. Fifth state to do that.https://t.co/CP3AScHYWK pic.twitter.com/Wye7XsyvfE
— Dustin Gouker (@DustinGouker) October 27, 2025
“As a common matter, there isn’t a proper below Illinois legislation to have interaction in or revenue from playing by way of contract or in any other case…
“Playing is authorized in Illinois solely to the extent allowed below State legislation, such because the Illinois Playing Act, Video Gaming Act, Sports activities Wagering Act, and Prison Code of 2012. It’s illegal to unknowingly set up, keep, or function an Web website that allows an individual to play a sport of probability or ability for cash or different factor of worth, or that allows an individual to make a wager upon the results of any sport, sport, contest, political nomination, appointment, or election by way of the Web with out an IGB-issued license.”
Illinois isn’t alone in its ideas about prediction markets
The memorandum continues to outright say: “‘Predictions markets’ represent playing exercise below Illinois legislation.” It’s mentioned that events who take part in or facilitate such exercise inside the state, with out IGB licensure or authorization, are engaged in unlawful playing.
The regulator warns that if somebody is discovered to be violating gaming legal guidelines or guidelines of one other state or tribal authorities, such conduct could likewise influence that occasion’s suitability for licensure in Illinois. In April, the regulator turned the newest state to subject cease-and-desist letters to prediction markets like Kalshi and Robinhood, accusing them of breaking the legislation by letting individuals commerce contracts based mostly on sports activities occasions.
It’s not simply this state which has made their opinions recognized on prediction markets, as others have additionally issued issues. Earlier in October, the Pennsylvania gambling watchdog director claimed that the “rising presence” of those markets is a “important risk” to the state’s rules.
In September, the Arizona Division of Gaming despatched communications to accredited sportsbooks within the state warning them that providing prediction markets outside of Arizona might put their license in danger. The Ohio On line casino Management Fee has issued comparable warnings, as has Tennessee.
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