Flutter to Shut Down Betfair in Italy Amid Gambling Framework Changes
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StrategySeptember 18, 2026·1 min read
Illinois Bill Aims to Repeal New Tax on Prediction Markets
Rep. Travis Weaver (R) introduced a bill (HB 5811) to repeal Illinois’ new tax on prediction market sports contracts. The tax, approved in June as part of a new budget signed into law by Gov. JB Pritzker (D), has faced criticism for its complexity and potential legality issues.
The tax rate is 1.75% for each wager for the first 5 million transactions, and then rises to 3.5% for every contract beyond that. Rep. Travis Weaver (R) pointed out that the budget did not include any revenue from these taxes, but did include money for the attorney general to defend them.
Rep. Daniel Didech (D) introduced a proposal eliminating the per-bet tax altogether in February. Peter Jackson, the then-CEO of FanDuel parent company Flutter Entertainment, stated that there is an optimal level for gaming tax rates that enables operators to provide the best experience for customers, maximize market growth, and maximize revenue for states over time.
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