BUSINESSWPLG LOCAL 10 MIAMI
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 new 14.25% excise tax on prediction markets, arguing it is discriminatory and unconstitutional. The tax, higher than the 9.75% rate on horse track wagers, faces opposition from companies and the state's attorney general, who claims it is necessary to protect legal betting laws.
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