Illinois slaps (unexpected) new tax on sports betting — Now highest tax in nation.

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  • Shares of online sports betting platforms struggled Monday.
  • Illinois lawmakers passed a budget that included what one analyst described as a surprise tax increase on wagers.

Online sports betting stocks retreated Monday after Illinois lawmakers approved a budget that again raised taxes on wagers, heightening investor alarm that other states could follow suit.

DraftKings
dropped more than 5% and Flutter Entertainment
shares fell more than 3%. The Roundhill Sports Betting & iGaming ETF (BETZ)
eased more than 1%.

https://www.cnbc.com/2025/06/02/sports-betting-stocks-slide-after-illinois-lawmakers-approve-tax-hike.html

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