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Illinois appeals injunction blocking enforcement of prediction markets law

Regulation

Illinois officials appealed to the Seventh Circuit after a federal judge barred the state from enforcing its event-contract licensing and tax law. Judge Martha Pacold’s 30 October order covers licensing, fees, taxes and enforcement measures concerning swaps, including sports event contracts offered by CFTC-registered companies.

The appeal will determine whether Illinois can enforce state gaming rules against covered event-contract trading while the cases proceed.

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Enforcement & compliance

Ohio pledges gambling enforcement against Kalshi after federal appeals ruling

Ohio Governor Mike DeWine said the state will enforce gambling laws against Kalshi following a Sixth Circuit ruling. The court unanimously upheld a decision denying Kalshi’s request to block Ohio enforcement, rejecting its argument that federal commodities law shields its sports contracts from state regulation.

Ohio will enforce its gambling laws against prediction market operator Kalshi, Governor Mike DeWine said, after the US Sixth Circuit Court of Appeals ruled that the company's sports-event contracts are not shielded from state regulation by federal commodities law. The appeals court unanimously affirmed an Ohio federal district court decision denying Kalshi's request to block enforcement of Ohio gambling law, according to the ruling. The case now returns to the lower courts for further proceedings.

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