
Federal Judge Blocks Illinois Licensing of Kalshi's Sports Contracts but Holds Off on the State's Tax
A Chicago judge has found that Kalshi's championship contracts are likely swaps and that Illinois likely cannot make the exchange take out a sports wagering licence. She has not yet ruled on the state's new 1.75% to 3.5% prediction-market fee, and her reasoning puts her at odds with a Wisconsin judge in the same circuit and with two federal appeals courts.


