Peterson was charged with possession of an illegal firearm after authorities learned he gave a short-barreled rifle to his son for safe keeping.
Peterson is awaiting trial in the 2004 death of his third wife Kathleen Savio. He is also a suspect in the 2007 disappearance of his fourth wife Stacy Peterson. He has denied wrongdoing.
At Friday's hearing, Will County Judge Richard Schoenstedt said prosecutors didn't show that Peterson couldn't own the weapon that was seized in November 2007. It is the second time the judge has thrown out the charge.
Defense attorney Joel Brodsky says it was the right decision to make.
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