Illinois fights federal injunction bid over prediction markets gambling enforcement dispute

Illinois is asking a federal judge to reject requests that would temporarily block the state from enforcing its gambling laws against sports and election prediction markets, arguing the products are ordinary wagers instead of federally regulated financial instruments. In a 43-page response filed in the U.S. District Court for the Northern District of Illinois and reviewed by ReadWrite, Attorney General Kwame Raoul’s office said the Commodity Futures Trading Commission, Kalshi, and the Coalition