State Senator Michael E. Hastings is calling for support on legislation aimed at addressing online prediction platforms that allow users to wager money on real world events while avoiding the licensing and oversight required of regulated gambling operators in Illinois.
“These platforms are taking real money and allowing users to bet on outcomes just like a sportsbook,” said Hastings (D-Frankfort). “If you are operating like a gambling entity, taking wagers and profiting from those bets, then you should be subject to the same rules and consumer protections as every other gambling operator in Illinois.”
Senate Bill 4168 would clarify that platforms offering speculative contracts on future events may fall under Illinois gambling law if they function like betting operations.
Illinois casinos and sportsbooks operate under the oversight of the Illinois Gaming Board, which enforces licensing requirements, consumer protections and regulatory compliance. Hastings’ legislation would ensure that prediction platforms could not operate outside those safeguards if they are effectively taking bets from Illinois residents.
“You cannot allow platforms to take wagers on everything from elections to potential global disasters and then claim they are not operating as gambling businesses,” said Hastings.
Hastings will work to advance this legislation in the coming weeks.
