Prediction Markets Sue Kentucky Over Tax
Global News Today | 2 Min News | The Daily News Now!
- Published
- June 14, 2026
- Duration
- 2:02
- Summary source
- description
- Last updated
- Jun 14, 2026
Discusses daily.
Summary
Big names like Kalshi and Crypto.com are suing Kentucky over its new 14.25% excise tax on prediction markets — the first of its kind nationwide — calling it unconstitutional, discriminatory, and illegal. The tax, imposed in April, targets transaction fees on platforms where users bet on real-world events like elections and economic shifts, while horse tra…
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Show notes
Big names like Kalshi and Crypto.com are suing Kentucky over its new 14.25% excise tax on prediction markets — the first of its kind nationwide — calling it unconstitutional, discriminatory, and illegal. The tax, imposed in April, targets transaction fees on platforms where users bet on real-world events like elections and economic shifts, while horse tracks pay a much lower 9.75%. Kentucky’s AG vows to defend the law, framing it as protection for local sports betting rules. Plaintiffs argue the
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