I find it baffling that it is considered backroom and shady to pay taxes to a state. Isn’t it the opposite? Was it also backroom and shady when Illinois jammed prediction market tax language into their budget with less than 30 minutes to review? Where is the commentary on that.
Legislators are the ones who decide where tax revenue is allocated, not companies! Perhaps next time a story like this is written, they learn the legislative process instead of creating false narratives about how it works.
If state legislators want to dedicate PM tax revenue to specific services, go for it!
And why is the casino industry opposed to prediction markets paying taxes and states collecting revenue? Let’s be honest about what’s really at stake - this isn’t about protecting consumers. It’s about protecting their monopolies.
A backroom tax victory in North Carolina strengthens Kalshi’s hand in its fight with other states bloomberg.com/news/articles/…
Sep 25, 2026 · 1:19 PM UTC
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