Illinois Appeals Block on Prediction-Market Licenses and Taxes

Illinois appealed the block on its sports-event-contract licensing and tax powers on October 30, taking the dispute over state oversight of federally regulated swap trading to the US Court of Appeals for the Seventh Circuit. The state’s notice of appeal challenges the order Judge Martha Pacold signed that same day in the Northern District of Illinois. State officials want the court’s preliminary injunction “reversed and vacated,” seeking to restore those powers while the underlying cases proceed. Their appeal challenges interim protection in the linked cases involving the federal government, Coinbase and Kalshi, rather than a final decision on the merits.