Federal judge blocks Illinois from enforcing gambling laws against prediction markets
Regulation1 min read
A federal judge in Illinois issued a preliminary injunction barring state officials from enforcing gambling laws against CFTC-regulated prediction markets, reportedly. The injunction covers licensing requirements, taxes and enforcement; the report also says DraftKings, FanDuel and Fanatics are among operators retreating from Utah.
A federal judge in Illinois has reportedly entered a preliminary injunction that bars state officials from enforcing gambling laws against CFTC-regulated prediction markets. The injunction reportedly covers licensing requirements and taxes. It was also reported to extend to licensing, taxation and enforcement.
The report adds that more operators are retreating from Utah, in the context of a legal battle over sports-event contracts.