The General Assembly of Illinois has approved Governor Pritzker’s $56 billion state budget plan for 2027, which includes a tax on prediction market sports event contracts.
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Nevada receives preliminary injunction against Polymarket
On June 1, the Nevada Gaming Control Board (NGCB) announced that Judge Woodbury granted its motion for a preliminary injunction against prediction market platform Polymarket.
According to the Board’s statement, Nevada’s First Judicial District Court granted the motion on May 29, with the decision marking a win in the ongoing battle between U.S. states and prediction markets.
NGCB Chairman Mike Dreitzer commented:
“We are very pleased with Judge Woodbury’s ruling and will continue to vigorously enforce Nevada law to safeguard gaming in our state.”
State authorities believe that event contracts fall under the classification of gambling, which means that all prediction platforms must have licenses in order to offer their services legally. Based on this, Nevada has also restricted the operations of Kalshi and Coinbase, with the NGCB stating that all unlicensed prediction market operators have been taken down in the state.
The NGCB wrote in a statement:
“The Board considers the offering of sports-event contracts, along with certain other event contracts, to constitute wagering activity. Nevada’s public policy, as expressed by the Legislature, is that the gaming industry is vitally important to the economy of the state and the general welfare of the inhabitants and therefore must be licensed, controlled, and assisted to protect the public health, safety, morals, good order, and general welfare of the inhabitants of the state.”
The ruling comes just days after the Rhode Island Attorney General filed a lawsuit against Kalshi and Polymarket, arguing that both have been offering illegal sports betting in the state.
The governor of North Carolina, Josh Stein, has signed an executive order to ban state employees from trading on prediction markets using insider information obtained from...
