Illinois lawmakers approve 14.25% tax on prediction market operators
Illinois lawmakers included a tax on prediction market operators in the state budget, according to reports. The tax is 14.25% of transaction fees or adjusted revenues. The Commodity Futures Trading Commission and operators such as Kalshi may oppose the measure, but the source reports no response to this tax decision.
The tax changes the cost of operating prediction markets in Illinois and could prompt a challenge over state regulatory authority.