Kalshi Sues Illinois Over New State Tax on Sports-Related Prediction Markets
Decrypt·
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Kalshi is suing Illinois over a new state tax on sports-related prediction markets, set to take effect next week, which would claim 15% of gross receipts from sports-related wagers. This move threatens Kalshi's business model, as the platform relies heavily on low-friction, low-margin operations. Market implications are uncertain, but could impact the growth of prediction markets in the region.
Illinois is set to institute a new tax on prediction markets next week that would take 15% of gross receipts from sports-related wagers.