A coalition of prediction market operators, including Kalshi, Crypto.com and Polymarket, has sued Kentucky over a newly enacted tax on prediction market transactions, arguing that the levy is discriminatory and conflicts with federal law.
A lawsuit has been filed in Kentucky state court by the Coalition for Fair Markets, contesting a 14.25% excise tax imposed on prediction market operators' transactions. The coalition, led by Kalshi, Crypto.com, and Polymarket, asserts that the tax is unjust and violates federal regulations.
