Kalshi challenges Illinois prediction-market law in federal court
Kalshi filed a federal lawsuit against Illinois officials, arguing that Senate Bill 3019 conflicts with federal oversight of event contracts. The company is seeking to block enforcement before the law takes effect on 1 July, arguing that state licensing requirements would conflict with its obligations as a designated contract market under the CFTC.
The case could affect whether Illinois can apply state gambling licensing rules to federally regulated prediction markets.