PREDICTION MARKETS REGULATION

Summary

The bill creates a new Prediction Markets Regulation and Taxation Act that forces any company offering non‑sports prediction contracts to Illinois residents to secure a master license from the Illinois Gaming Board and pay a $1 million fee, renewable each year. It also imposes a privilege tax equal to half of the platform’s adjusted gross receipts from those contracts. Violations are treated as unlicensed gambling and can trigger civil and criminal penalties.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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