[Kalshi Wins Partial Preliminary Injunction Against Illinois, Championship Contracts May Be Considered Swaps] Odaily Planet Daily News: Prediction market platform Kalshi has won a partial preliminary injunction against Illinois. On October 2, Judge Martha M. Pacold of the U.S. District Court for the Northern District of Illinois ruled that the state's sports betting licensing system and related criminal provisions may be preempted by federal law and temporarily cannot be enforced against Kalshi. The ruling temporarily blocks Illinois from requiring Kalshi to hold a state license, which was originally intended to restrict traders to being at least 21 years old and physically located within the state, as well as limiting the sports events that contracts could track. The court did not make a decision regarding Illinois' newly imposed prediction market fees. Pacold stated that contracts concerning championship winners may fall under the definition of swaps as outlined in the Commodity Exchange Act and should be traded on designated contract markets under federal regulation. This judgment differs from the Ninth Circuit Court of Appeals' August conclusion that similar contracts were considered gambling rather than swaps. This marks Kalshi's first victory in federal court since July. Illinois' new prediction market law stipulates a fee of 1.75% for the first 5 million related transactions on the exchange, increasing to 3.5% thereafter, along with a 15% fee on total revenue and an additional fee of $0.25 or $0.50 per transaction. The court has requested both parties to submit supplemental opinions regarding the fee issue. (Bitcoin.com News)