DraftKings Inc (NASDAQ:DKNG) shares are trading lower after the Illinois State Senate approved a 2025 budget that includes a significant sports betting tax hike. The new legislation will more than double the current tax rate, increasing it from around 15% to the mid-to-high 30% range. This change is expected to take effect in July, pending approval by the House. The tax hike follows similar measures in other states, such as Ohio and New York, driven by the explosive growth of the sports betting industry and the need for increased problem-gambling services. Related: DraftKings Stock Is Sliding …