Chicago Aldermen Advance Ban on Employee Prediction Bets in Unanimous Vote as Final Approval Nears
Updated
Updated · Chicago Tribune · Jul 7
Chicago Aldermen Advance Ban on Employee Prediction Bets in Unanimous Vote as Final Approval Nears
3 articles · Updated · Chicago Tribune · Jul 7
Summary
A unanimous City Council Ethics Committee vote on Tuesday moved forward an ordinance barring Chicago employees and elected officials from betting on prediction markets such as Kalshi and Polymarket.
Ald. Timmy Knudsen said the measure is meant to close a "gray" area by explicitly banning wagers that could exploit nonpublic City Hall information, even though existing city law already bars insider self-enrichment.
The ordinance now heads toward a likely final vote next week, after aldermen cited examples ranging from local election knowledge to advance signals on issues like the Bears or Waymo entering Chicago.
Illinois has already taken similar steps: Gov. JB Pritzker issued an April order for state employees, while the state gaming board has sent cease-and-desist letters to prediction platforms now fighting a federal jurisdiction lawsuit.
The push reflects how fast prediction markets have spread into politics and local affairs, with users already wagering on Chicago's 2027 mayoral race, the Bears' future and Pritzker's prospects.