Illinois lawmakers propose restrictions on prediction-market contracts
Illinois Rep. Edgar González Jr. introduced House Bill 5059 on 4 February, proposing restrictions on prediction-market platforms in the state. The bill would prohibit specified event-contract markets and allow the Attorney General to seek an injunction; platforms violating an order would face a proposed civil penalty of $1m per day.
Prediction-market providers could face restrictions on event contracts and substantial daily penalties if the proposal becomes law.