North Carolina raises sports betting tax to 23%
North Carolina Gov. Josh Stein signed the state’s $34 billion fiscal 2025-26 budget on Tuesday, raising the online sports betting tax rate and setting a separate tax for prediction market platforms.
Prediction Market Platforms
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North Carolina Gov. signs budget to raise betting tax and add
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.
U.S. Gaming Industry Groups Push for Ban on Sports-Event Contracts
Major U.S. gambling industry groups have called on Congress to prohibit prediction market platforms from offering sports-related event contracts.
South Korean Authorities Investigate Polymarket Users
After announcing a probe into Polymarket and Kalshi, the South Korean police are now looking into individual traders and whether they have broken the country’s strict gambling laws by opening accounts and participating in trades conducted on the prediction market platforms.
Brazil Monetary Council Blocks Kalshi from Trading Sports and Politics
The National Monetary Council in Brazil has intervened to prohibit prediction market platforms from tying derivatives to sports, politics, or entertainment events, starting on 4 May.