By The Weekly Edge desk ·
GamblingNews reported that Illinois enacted Senate Bill 3019, adding a prediction-market transaction tax and increasing sports betting taxes. The first five million trades will attract a 1.75% tax.
Prediction-market trades and sports betting operators face new tax requirements in Illinois.
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Polymarket’s request for help against New York and Kalshi’s potential tribal agreement concern prediction market operators.
The ruling and machine removals are followed by 81 job cuts at Republic Amusements, while legalisation legislation remains stalled.
The dispute concerns whether states can apply gambling rules to sports-event contracts offered by federally regulated exchanges.
The dispute could affect whether prediction market operators face state gambling laws alongside federal oversight.
The ruling puts businesses hosting skill-game machines at risk of losing the revenue those devices generate.