(The Center Square) - A lawsuit against a new Illinois law taxing prediction markets has been filed in federal court, presenting a challenge state lawmakers expected before they passed the measure.
Kalshi, a company with a prediction-based platform that allows users to place wagers on the outcome of real-life events, seeks to block the state law from taking effect Wednesday.
The company argued the federal government’s Commodity Futures Trading Commission is its sole regulator, which the CFTC also argued in a lawsuit against the state this year.
Kalshi, a company with a prediction-based platform that allows users to place wagers on the outcome of real-life events, seeks to block the state law from taking effect Wednesday.
The company argued the federal government’s Commodity Futures Trading Commission is its sole regulator, which the CFTC also argued in a lawsuit against the state this year.