The Jurisdictional Tug-of-War: Kalshi Takes Illinois to Court Over Prediction Market Taxation

The burgeoning prediction market industry, which has rapidly transformed from a niche interest into a powerhouse of speculative finance and political forecasting, has found itself at the epicenter of a landmark constitutional battle. This week, the prediction platform Kalshi filed a federal lawsuit against the state of Illinois, challenging the state’s authority to impose a…

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Navigating the Jurisdictional Labyrinth: The Supreme Court’s Ruling in Jules v. Andre Balazs Properties

May 28, 2026 — The landscape of American arbitration law underwent a subtle yet seismic shift on May 14, 2026, when the U.S. Supreme Court issued its opinion in Jules v. Andre Balazs Properties. While arbitration remains a primary mechanism for dispute resolution in the United States, the procedural "gatekeeping" rules regarding which court—state or…

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