Kalshi wins partial preliminary ban in Illinois, sports championship contract may fall under federal regulatory swap

Prediction market platform Kalshi has won a partial preliminary injunction in an Illinois lawsuit, with the court ruling that the sports championship contract may be a federally regulated swap. Judge Martha M. Pacold of the Federal District Court for the Northern District of Illinois ruled that the state's sports betting licensing system and related criminal provisions may be prioritized by federal law and cannot be enforced against Kalshi temporarily. The court did not make a ruling on the fees for the newly established predictive market in Illinois, which stipulate a fee of 1.75% for the first 5 million related transactions of the exchange, followed by a fee of 3.5%, plus a total revenue fee of 15% and a fee of 25 or 50 cents per transaction. The court requested all parties to provide additional opinions on the fee issue. (Source: Bitcoin.com News)