Racketeering is when some bad people do bad things together to get money. They call themselves a “gang” or a “mafia” and they have a leader, like a boss.
These bad guys might do things like cheat at games or sports, lie to people, steal things, or hurt people who don't do what they say. They might also sell illegal things like drugs, guns, or stolen money.
The bad guys make money from doing these bad things, but they don't want to get in trouble with the police. So, they tell people to give them money so that they won't get hurt or get their stuff damaged. This is called “protection money” or a “protection racket.”
Sometimes, these bad guys work together to do even worse things like taking over businesses or neighborhoods, and forcing people to pay them money. This is called “racketeering.”
Racketeering is very bad because it hurts a lot of people and makes them scared. That's why the police and the government work very hard to stop the bad guys from doing it.