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CFTC Sues Kentucky on June 23 Over 14.25% Prediction Market Tax, First Republican-Led State Targeted

Enforcement Actions Regulation & Policy Prediction Market

2026-06-25 06:42:10

KALSHI17.25%

POLYMARKET2.13%

According to a CFTC complaint filed June 23, the Commodity Futures Trading Commission sued Kentucky seeking to block the state from enforcing gambling laws and a new 14.25% excise tax on prediction-market transaction fees. This marks the CFTC's ninth suit against a state since April and the first targeting a state led by a Republican attorney general. Kentucky Attorney General Russell Coleman had sued Kalshi and Polymarket on June 17, alleging they operate as unlicensed sportsbooks. The CFTC argues sports-event contracts fall under federal jurisdiction as swaps under the Commodity Exchange Act, preempting state law. The 14.25% tax, enacted in April and set to take effect January 1, 2027, is the first state-level levy of its kind in the U.S.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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Ethan Brooks12h ago

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