Kalshi Sues Illinois Over SB3019, Claims 0.2% Tax Conflicts With Federal Law

KALSHI9.82%
According to Cryptopolitan, Kalshi has filed a lawsuit in federal court challenging Illinois's SB3019, which requires prediction market platforms to obtain state licenses and imposes a 0.2% tax on digital asset trades. The law takes effect on July 1. Kalshi argues that the CFTC holds exclusive jurisdiction over exchange-traded derivatives under federal commodities law, and the state's additional regulatory requirements conflict with the Commodity Exchange Act. Complying with the state law would either violate CFTC uniformity requirements or create costly geographic restrictions.
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