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Markets5h 9m ago
A coalition including Kalshi, Crypto.com, and Polymarket filed a lawsuit challenging Kentucky’s new 14.25% excise tax on prediction markets.
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Kentucky, USA
Who
Kalshi, Crypto.com, Polymarket, Kentucky Atty. Gen. Russell Coleman, Coalition for Fair Markets
What
A coalition including Kalshi, Crypto.com, and Polymarket filed a lawsuit challenging Kentucky’s new 14.25% excise tax on prediction markets.
When
Sat, 13 Jun 2026 20:28:37 GMT · 5h 9m ago
Where
Kentucky, USA ·
Why
The lawsuit claims Kentucky's tax on prediction markets is discriminatory, unconstitutional, preempted by federal law, and higher than the tax on the state's horse racing industry.
The Frontline Impact
How this affects you
This legal challenge could impact the future of prediction market operations and taxation in Kentucky and potentially set a precedent for other states considering similar levies on federally regulated financial derivatives. The outcome will influence the regulatory landscape for prediction markets and state revenue.
Story chain
2 events in this thread- Currently Reading5h 9m agoA coalition including Kalshi, Crypto.com, and Polymarket filed a lawsuit challenging Kentucky’s new 14.25% excise tax on prediction markets.
- Markets5h 9m agoA coalition including Kalshi, Crypto.com, and Polymarket filed a lawsuit Friday challenging Kentucky’s first-in-the-nation excise tax on prediction markets.Open article