Fracking is the shorthand term for "hydraulic fracturing" - the oil/gas extraction technique where water, chemicals and good Wisconsin sand are pumped under extremely high pressure into oil and/or gas bearing rock thank has been fractured by explosives in order to force out oil/gas from pores in the rock. The Wisconsin sand is used to prop open the cracks in the rock so that the oil and gas can keep flowing out of the rock.
No. There are no oil or gas deposits in Wisconsin. There is a small amount of shale formation that extends from Michigan under Lake Michigan and does appear on geologic maps as part of the rocks under the eastern part of the state, along the western edge of Lake Michigan. However, just because there is shale there does not mean that there is oil or gas in the shale or that even if oil or gas is present, that it might be economically feasible to drill for it.
Here is a map from the US Department of Energy showing where our sand goes:
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