Illinois HB 5059: ORACLE ACT

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 Full Text of HB5059

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
HB5059

Introduced 2/10/2026, by Rep. Edgar González, Jr. 

SYNOPSIS AS INTRODUCED:

New Act

 Creates the Oversight and Regulation of Activity for Contracts Linked to Events (ORACLE) Act. Prohibits a prediction market platform provider from permitting any consumer under the age of 21 to register or to open any speculative position on a prediction market. Requires a prediction market platform provider to exclude certain individuals from participation in a prediction market platform. Prohibits certain types of prediction markets. Requires providers to implement and adhere to responsible gaming measures. Sets forth advertising restrictions, restrictions on credit-based products and gift certificates, and restrictions on market making. Requires prediction market platform providers to implement commercially reasonable and technically feasible measures to detect and prevent any fraud or manipulative conduct. Establishes penalties for violation of the Act. Provides that the Attorney General may adopt rules to implement and administer the Act. Contains a severability clause.

LRB104 18213 LNS 31652 b

A BILL FOR

HB5059LRB104 18213 LNS 31652 b

1 AN ACT concerning gaming.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 1. Short title. This Act may be cited as the 

5Oversight and Regulation of Activity for Contracts Linked to 

6Events (ORACLE) Act.

7 Section 5. Definitions. As used in this Act:

8 "Athletic event" means an organized competition between 2 

9or more persons or groups of persons that involves physical or 

10mental skill. "Athletic event" includes horse racing and prop 

11betting.

12 "Athletic event market