FRANKFORT, Ky. — A coalition that includes Kalshi, Crypto.com and Polymarket filed a lawsuit Friday challenging Kentucky’s first-in-the-nation excise tax on prediction markets. The Kentucky General Assembly in April enacted a 14.25% tax on prediction market operators’ transaction fees, a levy the lawsuit says is discriminatory, unconstitutional and preempted by federal law. Prediction markets are … Read more
Earlier this year, Thomas Christian Owens decided to try his hand at prediction market trading for the first time. He created a Kalshi account in January. Three months and a $500 deposit later, he started betting. “It was a little bit of a birthday gift to myself to throw some money in there and just … Read more
President Donald Trump on Tuesday stressed the importance of establishing the U.S. Commodity Futures Trading Commission’s “exclusive authority” over prediction markets and vowed to protect the cryptocurrency industry. Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content. “It is critically important that the CFTC’s exclusive authority over Prediction Markets … Read more
Trade was a critical topic at the Beijing summit with Chinese President Xi Jinping. President Trump said he struck “fantastic” deals, but the U.S. stock market fell on Friday. Lana Zak reports on reaction from the heartland of America. Source link
NEWYou can now listen to Fox News articles! President Donald Trump said Chinese President Xi Jinping has said he will not provide military equipment to Iran, which has been a central focus of the high-stakes meeting marking a possible win for the Trump administration. Xi “said he’s not going to give military equipment. That’s a … Read more
After an initial furor over jaw-dropping levels of ticket prices, global soccer fans may be starting to see some relief — at least in the resale market. Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content. Prices for more than 90% of World Cup matches are coming down on … Read more
NEWYou can now listen to Fox News articles! No one would have predicted it. But you could have made a lot of money if you did. With uncharacteristic dispatch, the United States Senate unanimously voted to ban senators and staff from playing in the prediction markets. “This is a national security risk,” said Senate Minority … Read more
At minimum, we should tax the practice to shrink its scale. Source link
The Justice Department and the nation’s top commodity market regulator are investigating a series of oil market trades that came just ahead of major policy announcements from President Donald Trump and Iranian officials, according to a source familiar with the probe. Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive … Read more
The price of oil plunged and markets surged early Wednesday after a new report that the U.S. believed it was nearing a deal to end the war with Iran and eventually reopen the Strait of Hormuz. Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content. Officials in Washington and … Read more