Real Dictionary

racket
You can refer to an illegal activity used to make money as a racket.
singular noun: A racket is a loud unpleasant noise.

racket in American English 1
a noisy confusion; loud and confused talk or activity; uproar
to make a racket; take part in a noisy activity
intransitive verb: to make a racket or noise
noun: a loud noise or clamor, esp. of a disturbing or confusing kind; din; uproar

racket in American English 2
a light bat for tennis, badminton, etc., with a network of catgut, silk, nylon, etc., in an oval or round frame attached to a handle
noun: a light bat having a netting of catgut or nylon stretched in a more or less oval frame and used for striking the ball in tennis, the shuttlecock in badminton, etc.

racket in British English 1
noun: a noisy disturbance or loud commotion; clamour; din
verb: to go about gaily or noisily, in search of pleasure, excitement, etc

racket in British English 2
noun: a bat consisting of an open network of nylon or other strings stretched in an oval frame with a handle, used to strike the ball in tennis, badminton, etc
verb: to strike (a ball, shuttlecock, etc) with a racket