Illinois Appeals to Seventh Circuit After Judge Blocks Prediction Markets Law – CDC Gaming – Wirepoints

Illinois appeals to Seventh Circuit after judge blocks prediction markets law – CDC Gaming – Wirepoints

In an order issued Friday, October 30, Judge Martha Pacold wrote that Illinois officials including Attorney General Kwame Raoul cannot enforce state gaming laws, including the Sports Wagering Act, illegal gambling statutes, or the ‘Internet Wagering’ provisions of the Illinois Admin Code, on the trading of swaps, including sports event contracts, that are available via Commodity Futures Trading Commission-registered companies like Kalshi.

Illinois Prediction Market Law Injunction Now In Effect, but State Appeals to Seventh Circuit

U.S. District Court for the Northern District of Illinois Judge Martha M. Pacold has implemented a preliminary injunction against Illinois officials from enforcing state gambling laws related to sports event contracts and the trading of swaps. Pacold granted the temporary injunction motion to Kalshi and Coinbase in early October and implemented the order on Friday, … Continued

Illinois appeals Pacold injunction blocking its prediction-market licensing and tax regime

A federal judge has barred Illinois from licensing, taxing or prosecuting sports event contracts listed on CFTC-regulated exchanges. The state's appeal sends the fight to the Seventh Circuit, which already has prediction-market cases from Wisconsin. Illinois has lost, for now, its power to police sports event contracts traded on federally regulated exchanges. Judge Martha Pacold’s order in the Northern District of Illinois turns her early-Octobe…

Illinois Appeals Order Limiting State Rules on Swaps at CFTC Venues

The Oct. 30 injunction bars enforcement of specified licensing, fee and tax provisions for swaps, including sports event contracts, listed on or available through CFTC-regulated entities.

Illinois appeals to Seventh Circuit after judge blocks prediction markets law

KEY TAKEAWAYS A new federal court preliminary injunction blocks Illinois from enforcing the prediction markets licensing and tax law state legislators passed in June. In an order issued Friday, Oct. 30, Judge Martha Pacold wrote that Illinois officials including Attorney General Kwame Raoul cannot enforce state gaming laws, including the Sports Wagering Act, illegal gambling […]