Gov. Josh Stein signed the North Carolina budget on Tuesday, officially raising the state’s online sports betting tax rate and confirming that the state intends to tax prediction market platforms, even though it will not regulate them.
The budget bill, Senate Bill 257, includes various gambling-related provisions in the Tar Heel State, including hiking the taxes on online sports betting and introducing taxes for prediction market platforms. Despite not regulating prediction markets, the state is set to impose taxes on these platforms as part of its budget plan.
