Illinois lawmakers have included taxes on sports prediction markets as part of the state’s latest budget.
Illinois has approved a 14.25% tax rate on a prediction market operator’s transaction fees or adjusted revenues as part of the new budget. This move is anticipated to face opposition from operators and the Commodity Futures Trading Commission (CFTC).
The decision to tax sports prediction markets is a significant development in Illinois' latest budget, with implications for companies operating in this sector.
