TechFlow News, June 25: According to Cryptopolitan, prediction market platform Kalshi filed a lawsuit on June 25 against Illinois Senate Bill 3019—recently signed into law—in the U.S. District Court for the Northern District of Illinois. Defendants include Governor JB Pritzker and Attorney General Kwame Raoul, among other officials. The bill requires prediction market platforms to obtain state-level operating licenses and imposes a 0.2% tax on digital asset transactions involving Illinois residents; it is set to take effect on July 1.
Kalshi argues that, as a CFTC-registered platform, it is protected under the Commodity Exchange Act, which grants the CFTC exclusive jurisdiction over exchange-traded derivatives—a federal authority that conflicts with the state-level regulatory framework established by SB 3019. The company has also applied for a temporary restraining order and a permanent injunction to prevent the law from taking effect as scheduled.
