North Carolina Bill Recognizes CFTC's ‘Federal Regulatory Authority’ Over Prediction Markets
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60-second summary
A North Carolina bill is being implemented, recognizing the CFTC's regulatory authority over prediction markets, specifically Kalshi and Polymarket, exempting them from state taxes at 6%, a significantly lower rate than other states are pursuing. This move aims to attract prediction market operators, potentially boosting the industry's growth and development in the state.
The state's budget law leaves oversight of Kalshi and Polymarket to the CFTC and taxes them at 6%, far below what other states are pursuing.