Kentucky Leads New State Push to Tax Prediction Markets, Testing Limits of State Authority
[ad_1] Key Takeaways ▸ Kentucky became the first state to explicitly tax prediction market platforms (14.25% on transaction fees), with Iowa (20%) and Illinois (50%) proposing similar measures, all focused on revenue capture rather than prohibition. ▸ The federal agency that oversees trading markets (the CFTC) sued three states, arguing that prediction markets are a […]
US Treasury Has No Authority To ‘Bail Out’ Bitcoin
[ad_1] The comments came during Bessent’s Congressional testimony on Wednesday in a tense exchange with California Representative Brad Sherman. United States Treasury Secretary Scott Bessent testified before Congress on Wednesday and reiterated that the US will retain Bitcoin (BTC) acquired through asset seizures but will not direct private banks to purchase more BTC in the […]