ORACLE ACT

Illinois General Assembly - Full Text of HB5059

Select Language

×

The Illinois General Assembly offers the Google Translate™ service for visitor convenience. In no way should it be considered accurate as to the translation of any content herein.

Visitors of the Illinois General Assembly website are encouraged to use other translation services available on the internet.

The English language version is always the official and authoritative version of this website.

NOTE: To return to the original English language version, select the "Show Original" button on the Google Translate™ menu bar at the top of the window.

Choose Language

English

Afrikaans

Albanian

Arabic

Armenian

Azerbaijani

Basque

Bengali

Bosnian

Catalan

Croatian

Czech

Danish

Dutch

Esperanto

Estonian

Filipino

Finnish

French

Galician

Georgian

German

Greek

Gujarati

Haitian Creole

Hausa

Hawaiian

Hebrew

Hindi

Hungarian

Icelandic

Indonesian

Interlingua

Interlingue

Inuktitut

Irish

Italian

Japanese

Javanese

Kannada

Khmer

Korean

Latin

Latvian

Lithuanian

Luxembourgish

Macedonian

Malagasy

Malayalam

Maltese

Maori

Marathi

Myanmar

Nepali

Norwegian

Odia

Pashto

Punjabi

Romanian

Russian

Samoan

Sango

Sanskrit

Sardinian

Sindhi

Sinhala

Slovak

Slovenian

Somali

Southern Sotho

Spanish

Sundanese

Swahili

Swedish

Tamil

Telugu

Thai

Tigrinya

Tonga

Turkish

Ukrainian

Urdu

Vietnamese

Welsh

Xhosa

Yiddish

Yoruba

Zulu

Powered by
Translate

Close

Illinois General Assembly

Top Navigation Bar

Translate

Learn

Select General Assembly

Search the 104th General Assembly

Enter search terms for legislation, members, committees, or schedules.

ILGA.GOV

LEGISLATION & LAWS

Bills & Resolutions

Public Acts

Illinois Compiled Statutes

Illinois Constitution

Search Legislation

Glossary

Guide

Reports & Inquiry

Legislative Reports

Special Reports

FTP Site

Legislator Lookup

Capitol Complex Phone Numbers

Rules & Regulations

Illinois Register

Administrative Rules

Senate

Members

Schedules

Committees

Request for Remote Testimony

Journals

Transcripts

Rules

Audio/Video

FOIA Information

Senate Employment Opportunities

Media Guidelines

House

Members

Schedules

Committees

Submit testimony for House Committees

Journals

Transcripts

Rules

Audio/Video

FOIA Information

House Employment Opportunities

Log In

Mobile Top Bar

Search the 104th General Assembly

Enter keywords to search the Illinois General Assembly website.

Full Text of HB5059

Home

Legislation

Full Text

HB5059 - 104th General Assembly

Bill Status

Full Text

Votes

Witness Slips

Select Menu

Bill Status

Full Text

Votes

Witness Slips

Printer Friendly Version

Introduced

Printer Friendly Version

Introduced

Open PDF

104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
HB5059

Introduced 2/10/2026, by Rep. Edgar González, Jr.

SYNOPSIS AS INTRODUCED:

New Act

Creates the Oversight and Regulation of Activity for Contracts Linked
to Events (ORACLE) Act. Prohibits a prediction market platform provider
from permitting any consumer under the age of 21 to register or to open any
speculative position on a prediction market. Requires a prediction market
platform provider to exclude certain individuals from participation in a
prediction market platform. Prohibits certain types of prediction markets.
Requires providers to implement and adhere to responsible gaming measures.
Sets forth advertising restrictions, restrictions on credit-based products
and gift certificates, and restrictions on market making. Requires
prediction market platform providers to implement commercially reasonable
and technically feasible measures to detect and prevent any fraud or
manipulative conduct. Establishes penalties for violation of the Act.
Provides that the Attorney General may adopt rules to implement and
administer the Act. Contains a severability clause.
LRB104 18213 LNS 31652 b

A BILL FOR

HB5059
LRB104 18213 LNS 31652 b
1

AN ACT concerning gaming.

2

Be it enacted by the People of the State of Illinois,
3
represented in the General Assembly:

4

Section 1.
Short title.
This Act may be cited as the
5
Oversight and Regulation of Activity for Contracts Linked to
6
Events (ORACLE) Act.

7

Section 5.
Definitions.
As used in this Act:
8

"Athletic event" means an organized competition between 2
9
or more persons or groups of persons that involves physical or
10
mental skill. "Athletic event" includes horse racing and prop
11
betting.
12

"Athletic event market" means a prediction market that
13
enables a consumer to open a speculative position on the
14
outcome of a specific athletic event or events or events
15
within an athletic event or events. "Athletic event market"
16
does not include the opening of a speculative position on the
17
final outcome of an athletic tournament or on a combination of
18
all outcomes of each event within an athletic tournament, such
19
as opening a speculative position on the overall champion of a
20
sports tournament or a bracket predicting all results of a
21
tournament.
22

"Athletic tournament" means a series of athletic events in
23
which the winners of individual events progress to compete in

HB5059
- 2 -
LRB104 18213 LNS 31652 b
1
subsequent events until a final overall winner is determined.
2

"Bid-ask format" means a format in which parties submit
3
offers to buy positions on a prediction market at a specific
4
price or range of prices and offers to sell positions at a
5
specific price or range of prices, with market prices
6
determined through the matching of these offers.
7

"Catastrophic event market" means a prediction market that
8
enables a consumer to open a speculative position on an
9
outcome that relates to war, state or national emergencies,
10
natural or human-made disasters, mass shootings, acts of
11
terrorism, or public health crises or the ancillary effects
12
thereof.
13

"Clearly and conspicuously" or "clear and conspicuous" has
14
the meaning given to those terms in Section 5 of the Automatic
15
Contract Renewal Act.
16

"Consumer" means an individual who is a resident of the
17
State.
18

"Death market" means a prediction market that enables a
19
consumer to open a speculative position on the death,
20
assassination, or attempted killing of a person or group of
21
persons, or on mass casualty events. "Death market" does not
22
include a prediction market where the outcome could indirectly
23
depend on a death as a consequence of a person's inclusion in
24
the market, such as a lawful prediction market which depends
25
on a person engaging in some action where the person's death
26
would naturally settle the market as such person not engaging

HB5059
- 3 -
LRB104 18213 LNS 31652 b
1
in such action.
2

"Illinois Gambling Help Hotline" means the Illinois
3
Gambling Help Hotline 1-800-GAMBLER and the texting help line
4
of texting "ILGAMB" to 833234.
5

"Liquidity provider" or "market maker" shall mean any
6
person or entity that, directly or indirectly, and whether
7
manually or through automated means, offers to buy or sell a
8
position in a prediction market with the primary purpose of
9
facilitating trading, supporting price discovery, or
10
maintaining market liquidity by posting bids and asks.
11

"Prediction market" means a system that allows consumers
12
to open a speculative position on the outcome of future events
13
in a bid-ask format. "Prediction market" includes all forms of
14
prediction markets regardless of the mechanisms or structures
15
used for opening speculative positions on future events.
16

"Prediction market platform" means any platform or service
17
that provides consumers with the ability to open speculative
18
positions on the outcomes of future events.
19

"Political market" means a prediction market that enables
20
a consumer to open a speculative position that relates to:
21

(1) a federal election, a State election, or an
22

election held by a unit of local government within the
23

State; or
24

(2) the actions or conduct of the federal government
25

or its agencies, employees, officers, or leaders, the
26

State government or its agencies, employees, officers, or

HB5059
- 4 -
LRB104 18213 LNS 31652 b
1

leaders, or a unit of local government in this State or its
2

agencies, employees, officers, or leaders in their
3

official government capacity.
4

"Security market" means a prediction market that enables a
5
consumer to open a speculative position on the price of a
6
publicly traded company.
7

"Settlement source" means an entity from which the
8
prediction market platform obtains or sources information for
9
the purpose of determining the outcome of a market.
10

"Speculative position" means a financial commitment made
11
by a participant in a prediction market.

12

Section 10.
Age restrictions.
13

(a) No prediction market platform provider shall permit
14
any consumer under the age of 21 to register or to open any
15
speculative position on a prediction market.
16

(b) If the prediction market platform provider has
17
inadvertently permitted a consumer that is under the age of 21
18
to use the prediction market platform provider's platform and
19
such prediction market platform provider discovers the error,
20
the prediction market platform provider shall immediately
21
suspend that account, close all positions on that account, pay
22
out to the consumer any funds on the account, and prohibit the
23
individual from further use of the provider's platform until
24
such consumer has attained the age of 21.

HB5059
- 5 -
LRB104 18213 LNS 31652 b
1

Section 15.
Exclusions from participation.
A prediction
2
market platform provider shall maintain and enforce policies
3
to exclude certain individuals from participation, including:
4

(1) any person who has self-excluded from using the
5

platform;
6

(2) any officer, director, employee, or agent of the
7

prediction market platform provider or its affiliated
8

companies;
9

(3) any officer, director, employee, or agent of a
10

source settlement provider;
11

(4) any person who has insider information on a
12

particular market or markets; and
13

(5) any other category of persons the Attorney General
14

by rule designates as excluded.
15

The exclusion shall be enforced until the person no longer
16
meets the criteria required for exclusion under this Section.

17

Section 20.
Certain markets prohibited.
A prediction
18
market platform provider shall not permit State users to open
19
a speculative position on the following types of markets:
20

(1) catastrophic event markets;
21

(2) political markets;
22

(3) death markets;
23

(4) security markets; and
24

(5) athletic event markets.

HB5059
- 6 -
LRB104 18213 LNS 31652 b
1

Section 25.
Settlement sources.
2

(a) Each prediction market platform provider shall
3
maintain a comprehensive list of all settlement sources that
4
the prediction market platform provider uses to determine the
5
outcomes of the prediction market platform provider's
6
prediction markets and shall make this list readily accessible
7
to consumers at all stages of the registration process.
8

(b) Each prediction market platform provider shall
9
display, on every section of the prediction market platform
10
provider's website in which a person can open a speculative
11
position on a specific prediction market, the settlement
12
source for the settlement of such market.
13

(c) No prediction market platform provider shall settle a
14
market based on proprietary or confidential information.

15

Section 30.
Responsible gaming measures.
16

(a) Each prediction market platform provider shall
17
implement and adhere to responsible gaming measures to protect
18
consumers who may be at risk of problem gambling behavior.
19
Such measures shall include, at a minimum:
20

(1) providing a mechanism by which an individual can
21

voluntarily self-exclude from the platform for a definite
22

or indefinite period. If a consumer self-excludes, the
23

prediction market platform provider must immediately block
24

such consumer's access to opening a speculative position
25

and take reasonable steps to prevent the consumer from

HB5059
- 7 -
LRB104 18213 LNS 31652 b
1

creating new accounts;
2

(2) allowing consumers to set daily, weekly, or
3

monthly limits on the amount they can deposit or spend in
4

opening speculative positions, if they so choose. The
5

platform may not encourage consumers to remove or increase
6

limits once set; any request to increase a self-imposed
7

limit shall have a 14-day waiting period;
8

(3) providing features that allow consumers to limit
9

the amount of time spent on the platform, and periodic
10

notifications that remind consumers of how long they have
11

been active and their net spending or winnings during that
12

session; and
13

(4) clearly posting and providing the Illinois
14

Gambling Help Hotline number "1-800-GAMBLER" and the
15

texting help line by texting "ILGAMB" to 833234 on the
16

platform's website and apps in any advertisements. No
17

other problem gambling hotline may be displayed.
18

All advertisements and marketing materials must include a
19
responsible gambling message and the Illinois Gambling Help
20
Hotline number in a clear and conspicuous manner.
21

(b) Each prediction market platform provider shall
22
implement training for employees to recognize and respond to
23
indications of problem gambling, including how they can direct
24
consumers to resources for help.
25

(c) Each prediction market platform provider shall
26
implement policies to identify problem gambling and shall,

HB5059
- 8 -
LRB104 18213 LNS 31652 b
1
upon making a determination that a user is engaged in problem
2
gambling, prohibit access to the provider's service.
3

(d) Each prediction market platform provider shall comply
4
with the advertising standards set forth in Section 35.

5

Section 35.
Advertising restrictions.
6

(a) All advertising by a licensed prediction market
7
platform shall be truthful and not misleading.
8

(b) A prediction market platform provider shall be
9
prohibited from sending push notifications to users that
10
pertain to bonuses or prediction markets that the user does
11
not currently have an open speculative position on.
12

(c) No advertisement shall depict a person under the age
13
of 21, except incidentally.
14

(d) No advertisements shall target persons under the age
15
of 21 or other vulnerable classes of persons, which the
16
Attorney General may designate by rule.
17

(e) A prediction market platform provider shall not
18
advertise in a manner that is calculated to reach individuals
19
on the self-exclusion list or individuals known to have
20
engaged in problem gambling.
21

(f) Every advertisement for a prediction market platform
22
shall include the Illinois Gambling Help Hotline number. If
23
the advertisement is a video, the Illinois Gambling Help
24
Hotline number shall be visible for the entire duration of the
25
video. If the advertisement is auditory only in nature, the

HB5059
- 9 -
LRB104 18213 LNS 31652 b
1
Illinois Gambling Help Hotline number shall be stated at the
2
beginning and end of the advertisement.
3

(g) No advertisement may suggest that the prediction
4
market product is endorsed by the State or any governmental
5
agency, except that it may state that the platform is licensed
6
within the State.
7

(h) A prediction market platform provider shall provide
8
consumers with a readily accessible way to opt out of direct
9
marketing. Upon a consumer's request, the prediction market
10
platform provider shall cease sending them promotional
11
material.
12

(i) No promotion may be advertised as "risk-free" or of
13
similar language.
14

(j) If the prediction market platform provider offers
15
bonuses, free credits, referral rewards, or other promotions
16
to consumers, the terms and conditions of these offers must be
17
described in plain language and shall be readily available to
18
the consumer prior to the consumer accepting such bonuses,
19
free credits, referral rewards, or other promotions.
20

(k) Where a prediction market platform provider uses
21
affiliate marketers or third-party promoters to promote the
22
prediction market platform provider's platform, the prediction
23
market platform provider shall be responsible for ensuring
24
such third parties also comply with the advertising standards
25
required by this Section and are liable for noncompliance with
26
the provisions of this Section.

HB5059
- 10 -
LRB104 18213 LNS 31652 b
1

(l) The Attorney General may adopt additional rules
2
pertaining to advertising by prediction market providers.

3

Section 40.
Restrictions on credit-based products and gift
4
certificates.
5

(a) No prediction market platform provider or another,
6
whether affiliated or otherwise, shall sell physical or
7
digital gift certificates in relation to its platform.
8

(b) No prediction market platform provider shall permit a
9
consumer to use a credit card or other credit-based product to
10
add funds to such consumer's account or, in any way, wager on a
11
prediction market.

12

Section 45.
Restrictions on market making.
13

(a) A prediction market platform provider shall not offer
14
a prediction market in the State if the market includes, as a
15
liquidity provider or market maker, any person or entity who
16
knowingly engages in gaming activities in the ordinary course
17
of business, whether within or outside the State. This
18
prohibition shall also apply to any affiliated entities,
19
subsidiaries, parent companies, joint ventures, partnerships,
20
agents, employees, or any entity acting at the direction of,
21
in cooperation with, or for the financial benefit of such a
22
person or entity.
23

(b) A prediction market provider shall not offer markets
24
to residents where in such markets there is a contract or share

HB5059
- 11 -
LRB104 18213 LNS 31652 b
1
of revenue with a person or entity who knowingly engages in
2
gaming activities in the ordinary course of business, whether
3
within or outside the State. This prohibition shall also apply
4
to any affiliated entities, subsidiaries, parent companies,
5
joint ventures, partnerships, agents, employees, or any entity
6
acting at the direction of, in cooperation with, or for the
7
financial benefit of such a person or entity.

8

Section 50.
Certain contract provisions void.
9

(a) A prediction market platform provider's terms of
10
service shall not alter or eliminate any right provided to a
11
consumer under this Act.
12

(b) Any agreement that violates any provision of this Act
13
shall be deemed void.

14

Section 55.
Insider trading and market manipulation.
15

(a) A prediction market platform provider shall implement
16
commercially reasonable and technically feasible measures to
17
detect and prevent any fraudulent or manipulative conduct by
18
participants or others. If the prediction market platform
19
provider detects potential manipulation, insider trading, or
20
fraud, it shall report it to the Attorney General and, if
21
appropriate, to law enforcement.
22

(b) A person who engages in insider trading or market
23
manipulation may be subject to penalties as prescribed by
24
Section 20-70 of the Digital Assets and Consumer Protection

HB5059
- 12 -
LRB104 18213 LNS 31652 b
1
Act.

2

Section 60.
Penalties.
3

(a) A prediction market platform provider who violates a
4
provision of this Act, or a rule or order adopted under this
5
Act, shall be liable for a civil penalty not to exceed $10,000
6
for each violation. If the Attorney General determines that
7
the prediction market platform provider has engaged in a
8
persistent course of conduct in violation of this Act, the
9
Attorney General may impose a civil penalty not to exceed
10
$50,000 for each violation.
11

(b) If a prediction market platform provider violates the
12
provisions of Section 15 or 45, the civil penalty shall be the
13
greater of 2 times the profits derived from the market or
14
$50,000.
15

(c) If the Attorney General believes from evidence
16
satisfactory to the Attorney General that a prediction market
17
platform provider has engaged in a persistent course of
18
conduct in violation of this Act, the Attorney General may
19
bring an action in the name and on behalf of the State in a
20
court having jurisdiction to issue an injunction to enjoin and
21
restrain the continuation of such violation. In such action,
22
the court shall order the prediction market platform provider
23
to cease operations in the State.
24

(d) If a prediction market platform provider continues to
25
operate in the State after an order under subsection (c) is

HB5059
- 13 -
LRB104 18213 LNS 31652 b
1
issued, the prediction market platform provider shall incur a
2
civil penalty of $1,000,000 per day that the prediction market
3
platform provider is operating in violation of the order.
4

(e) Nothing in this Act shall be construed to preclude
5
criminal prosecution under any other law.
6

(f) The fact that a prediction market platform provider
7
did not charge money or earn profit from activities in
8
violation of this Section shall not be a defense to a violation
9
of this Act.
10

(g) The remedies and penalties in this Act are cumulative.
11
Imposition of a penalty under this Act does not preclude the
12
Attorney General from taking any other action authorized for
13
the same violation.

14

Section 65.
Rulemaking authority.
The Attorney General
15
shall adopt rules as are necessary to implement and administer
16
this Act.

17

Section 97.
Severability.
The provisions of this Act are
18
severable under Section 1.31 of the Statute on Statutes.

Footer

Disclaimer

This site is maintained for the Illinois General Assembly by the
Legislative Information System, 705 Stratton Building, Springfield, Illinois 62706.

Contact ILGA Webmaster

ILGA.gov uses cookies to ensure you get the best experience on our website. By continuing to browse ILGA.gov you consent to our use of cookies.
Read About Cookies

ILGA.GOV

2026 ILGA.gov | All Rights Reserved |
ADA

|
Disclaimers
|
Learn

This site is maintained for the Illinois General Assembly by the
Legislative Information System, 705 Stratton Building, Springfield, Illinois 62706.
Contact ILGA Webmaster

ILGA.gov uses cookies to ensure you get the best experience on our website. By continuing to browse ILGA.gov you consent to our use of cookies.
Read About Cookies

ILGA.GOV

2026 ILGA.gov | All Rights Reserved |
ADA

|
Disclaimers
|
Learn