Illinois SB 4168: $DHS-HOME MODIFICATIONS

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
SB4168

Introduced 3/5/2026, by Sen. Michael E. Hastings 

SYNOPSIS AS INTRODUCED:

New Act

720 ILCS 5/28-1 from Ch. 38, par. 28-1

 Creates the Prediction Markets Regulation and Taxation Act. Includes findings and legislative intent provisions. Provides that no person shall operate a prediction market offering qualifying prediction market contracts to Illinois residents without first obtaining a master prediction market license from the Illinois Gaming Board and paying a $1,000,000 license fee to the Board. Provides that the master prediction market license is renewable annually upon payment of a $1,000,000 renewal fee and a determination of the Board that the licensee meets the requirements of the Act and the Board's rules. Requires the Board to adopt rules for licensing and establishes provisions concerning construction of the Act. Provides that the State shall impose and collect a privilege tax equal to 50% of a platform operator's adjusted gross receipts derived from qualifying prediction market contracts placed by or with Illinois residents. Sets forth provisions concerning additional requirements for the tax. Provides that violation of the Act shall constitute unlicensed gambling under the Criminal Code of 2012 and may result in cease and desist orders, civil penalties, license revocation, or referral for criminal prosecution. Grants the Board rulemaking authority to implement the Act. Amends the Criminal Code of 2012. Provides that, in addition to existing provisions, a person commits gambling when the person knowingly violates the Prediction Markets Regulation and Taxation Act.

LRB104 21101 BAB 35267 b

A BILL FOR

SB4168LRB104 21101 BAB 35267 b

1 AN ACT concerning