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Prediction Markets Up Against Illinois’ Century-Old Gambling Law in Series of Lawsuits
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Prediction Markets Up Against Illinois’ Century-Old Gambling Law in Series of Lawsuits
Prediction market platforms have spent the past year fighting with states over who gets to regulate them. Now firms like Kalshi and Polymarket are facing a different kind of threat in Illinois and other states: plaintiffs’ lawyers armed with centuries-old gambling laws. “There are state-level gambling laws that regulate the kind of conduct that Kalshi is engaged in,” argues attorney Russell Busch, who filed a federal lawsuit in Illinois against …
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