Illinois Gaming Board warns sportsbooks over unlicensed prediction markets
The Illinois Gaming Board warned state-licensed sportsbooks in a memorandum dated 23 October that involvement with unlicensed event contracts could put their licences at risk. The regulator said prediction markets constitute gambling under Illinois law and that facilitating illegal gambling could affect a licensee’s suitability.
The warning puts Illinois sportsbook licences at risk if operators engage in or facilitate unlicensed prediction markets.