Kalshi sues Illinois over 15% tax on sports event contracts
Deals & M&A · SectorWire deskSource published
Summary
Kalshi has filed a federal lawsuit against Illinois over a new 15% levy on gross receipts from sports-event contracts on prediction markets. The law, part of a $56bn annual budget signed by Governor JB Pritzker, takes effect on 1 July. Kalshi is seeking a temporary restraining order and accuses the state of violating the US Constitution's Supremacy Clause.
Why it matters
The case tests whether states can tax prediction-market event contracts that Kalshi argues fall under federal authority.
Cite as: SectorWire, “Kalshi sues Illinois over 15% tax on sports event contracts”, 26 June 2026, https://sectorwire.news/item/kalshi-sues-illinois-over-15-tax-on-sports-event-contracts/
Key facts
- Parties
- Meta, Kalshi, Polymarket
- Market
- USA