BUSINESSWDIV CLICKONDETROIT
A coalition sues to block Kentucky’s new 14.25% prediction markets tax
A coalition including Kalshi, Crypto.com, and Polymarket sued Kentucky over its 14.25% excise tax on prediction markets, arguing it is discriminatory and unconstitutional. The tax, enacted by the Kentucky General Assembly in April, is higher than the 9.75% tax on horse track wagers. Kentucky Attorney General Russell Coleman defended the tax, claiming it protects the state’s sports betting laws.
Mentioned
Related Signal
Adjacent reporting
- A coalition sues to block Kentucky’s new 14.25% prediction markets tax
- A coalition sues to block Kentucky’s new 14.25% prediction markets tax
- CFTC sues Minnesota over first explicit state ban on prediction markets
- CFTC sues Minnesota, Governor Tim Walz over prediction markets ban
- CFTC Backs Prediction Markets in Yet Another Lawsuit Against a State
- Trump administration sues over Minnesota prediction markets ban