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 […]