Illinois is set to impose a 0.2% tax on crypto transactions starting January 2027, sparking a fierce legal battle as two major advocacy groups sue, arguing it’s unconstitutional and overly vague — putting everyday users and businesses at risk of steep penalties for noncompliance. This isn’t the first showdown: a similar lawsuit was filed in July, and the crypto lobby is flexing its political muscle as digital asset regulation heats up. Meanwhile, a separate lawsuit from prediction market platform Kalshi claims a new state law bans sports contracts, violating federal law — adding another layer to the growing legal chaos around digital commerce.
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