IL HB5059

Creates the Oversight and Regulation of Activity for Contracts Linked to Events (ORACLE) Act to regulate prediction market platforms in Illinois

Prohibits consumers under age 21 from registering or opening speculative positions on prediction markets, requiring platforms to suspend underage accounts and refund funds upon discovery

Bans specific market types including political markets (elections and government actions), catastrophic event markets (disasters, terrorism, emergencies), death markets, security markets (stock prices), and athletic event markets

Requires responsible gaming measures including self-exclusion mechanisms, deposit/spending limits with 14-day waiting periods for increases, time-on-platform notifications, and display of the Illinois Gambling Help Hotline (1-800-GAMBLER)

Prohibits use of credit cards for funding accounts, bans gift certificates for platform use, restricts push notifications about bonuses, and requires advertisements to include gambling helpline information throughout