prediction markets

While accusing appointees of President Donald Trump of profiting off of real-time vents, Gov. JB Pritzker is enacting a state employee ban on using prediction market apps with insider information.

Gov. Pritzker bans state workers from using insider information on prediction market apps like Kalshi

Tina Sfondeles

Users on apps like Kalshi and Polymarket are betting on everything from the results of elections to economic decisions and war outcomes — even what words President Donald Trump will say in speeches. The governor said he’s concerned about the lack of oversight, including bets on events which can be influenced by state employees.

The federal government and states are wrestling over who gets to regulate prediction markets like Polymarket, where people can bet on sports or the outcome of world events.

Illinois

Trump administration sues Illinois over state’s attempts to regulate prediction markets

Casey Toner

The feds argue they have primary authority to regulate the popular markets, not the states. Illinois says the move puts profits over

University of Chicago freshman Oliver Wilson analyzes interest rates bets on the Polymarket prediction market platform in his Hyde Park apartment late last year. Polymarket CEO Shayne Coplan has pledged $20,000 to kickstart Wilson’s prediction market club at his university.

Illinois

Illinois regulators say prediction markets are illegal gambling, but bettors — and the Trump family — love them

Hannah Meisel, Casey Toner

Prediction market platforms like Kalshi and Polymarket rake in millions from wagers on sports and current events but pay nothing in state betting taxes and ignore regulations that govern online sportsbooks.