Legal status, available platforms, and tax information for prediction market trading in Illinois (IL).
Illinois permits CFTC-regulated prediction markets. All major platforms are available, and Chicago serves as the hub for CME Group event contracts.
Prediction markets regulated by the CFTC (Commodity Futures Trading Commission) are generally permitted under federal law across all US states. However, individual states may impose additional restrictions that affect platform availability.
| Platform | Available | Notes |
|---|---|---|
| Kalshi | Available | |
| Polymarket | Available | |
| FanDuel Predicts | Available | |
| DraftKings Predictions | Available | |
| Robinhood Sports | Available | |
| PredictIt | Available | |
| Interactive Brokers ForecastTrader | Available | |
| CME Group Event Contracts | Available | |
| Manifold Markets | Play-money — no restrictions | |
| Metaculus | Play-money — no restrictions |
Availability may change. Last verified April 2026.
Illinois taxes capital gains as ordinary income at a flat rate of 4.95%. Prediction market profits are subject to state income tax.
At the federal level, prediction market profits are generally reported as capital gains on IRS Form 8949 and Schedule D. The IRS treats prediction market contracts similarly to other financial derivatives. Consult a qualified tax professional for personalized advice.
