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Kalshi Sues Illinois Over Sports Betting Tax

oneplacenews
Technology & AI
June 29, 2026
0 Comments

Source: Ars Technica

Summary

Kalshi has filed a lawsuit against the state of Illinois in response to a newly imposed tax on prediction market sports bets. The company argues that the tax is unconstitutional and detrimental to its business operations.

Why It Matters

This lawsuit highlights the ongoing tension between emerging prediction markets and state regulations, which could set a precedent for how these markets are taxed nationwide. The outcome may influence the future of prediction markets, impacting their growth potential and the broader landscape of online betting.

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oneplacenews

One Place News
Technology & AI
August 22, 2026
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How AI accounting startup Rillet raised $100M and became a unicorn in 48 hours

Rillet CEO Nicolas Kopp shared growth numbers at a board meeting and set off a fundraising frenzy from Iconiq, Sequoia and others. Without even trying.