The growing popularity among states to legalize sports gambling has led way to another growing phenomena, prediction markets. These markets—platforms where users trade on the outcome of future events—have transitioned from academic curiosities to a multi-billion dollar industry. The concept of participating in prediction markets is simple: a user pays a sum of money toContinue reading “The Rise and Regulation of Prediction Markets”
Category Archives: Finance
U of I Flash Index shows uptick in Illinois economy for May
The University of Illinois’ Flash Index, a measure of the overall performance of the Illinois economy, recently reported an increase after four straight months of decline. The Flash index is “the weighted average of Illinois growth rates in corporate earnings, consumer spending, and personal income as estimated from receipts for corporate income, individual income, andContinue reading “U of I Flash Index shows uptick in Illinois economy for May”
The economics of Chicago’s Italian Beef Sandwich
Italian beef sandwiches have been a staple of Chicago cuisine, but with the popularity of the tv show The Bear it has elevated its presence on the national scene. So much so that there has been a growing appetite within the General Assembly to make it the national sandwich of Illinois. The origin of theContinue reading “The economics of Chicago’s Italian Beef Sandwich”
The Dow turned 130 years old. Here are some Illinois based companies formally part of the Index
The Dow Jones Industrial Average, a price-weighted stock market index tracking 30 large companies listed on U.S. exchanges, turned 130 years old on May 26. Currently, there are no Illinois based companies listed on the Index. However, there have been some notables over the years. Kraft Foods Most Americans grew up recognizing the iconic blue-boxedContinue reading “The Dow turned 130 years old. Here are some Illinois based companies formally part of the Index”
The last time the state of Illinois contributed its rainy day fund
Gov. J.B. Pritzker recently made his annual budget address, in which he touted the improved fiscal condition of the state as well as roughly $1 billion in extra revenue. Some of the highlights include providing financial relief to taxpayers by freezing taxes on gasoline and groceries. This is expected to cost the state $135 millionContinue reading “The last time the state of Illinois contributed its rainy day fund”
Understanding and Analyzing Municipal Real Estate Transfer Taxes
Overview There are three things that are certain in life: birth, death, and taxes. While we don’t like paying them, they play an important role in helping fund public services, like police and fire departments, schools, and garbage collection. They can hit us from all corners, but one area of taxation where people seem toContinue reading “Understanding and Analyzing Municipal Real Estate Transfer Taxes”
Something stinks on Chicago’s Southwest Side
Midway Defective Windows Cause for Concern Residents of Chicago’s Midway area have been couping with the smell of odorous chemicals coming from the installation of soundproof windows procured by Chicago Department of Aviation (CDA). The issue began over ten years ago, when the city of Chicago created the Midway Residential Sound Insulation Program (RSIP) toContinue reading “Something stinks on Chicago’s Southwest Side”
Comparing Chicago’s budget size to other U.S. cities
Overview Mayor Lori Lightfoot recently unveiled her $16.7 billion budget proposal to the City Council for FY 2022. Having the third largest population in the Union (2.7 million), the city of Chicago’s budget is also one of the largest among U.S. municipalities. This piece will compare the size of Chicago’s General Fund budget to theContinue reading “Comparing Chicago’s budget size to other U.S. cities”
The tax funding of Illinois college football programs
Introduction Big-time college football is big-time business. And with big-time business comes big-time money. The United States is undoubtedly an (American) football nation. When the leaves start to fall, we go giddy for the gridiron. While Chicago may be regarded as a pro-football town, college football is no exception. What is sometimes forgotten is thatContinue reading “The tax funding of Illinois college football programs”
Over $16 billion in infrastructure help coming for Illinois
Congress has passed President Biden’s landmark $1 trillion infrastructure bill which will provide aid to states to help build bridges, maintain roads, construct broadband access, and much more. While it is still to be determined how much money Illinois will be exactly receiving, Senators Durbin and Duckworth have noted the following: It should also beContinue reading “Over $16 billion in infrastructure help coming for Illinois”
Prairie State Policy 