On June 7, 2026, U.S. federal judge Analisa Torres denied a motion for a preliminary injunction filed by Kalshi, arguing that New York state gambling laws apply to the...
North Carolina passes 23% sports betting & 6% predictions tax
On June 7, 2026, the Governor of North Carolina, Josh Stein, approved the $34 billion 2026 fiscal year budget, which will introduce a 23% sports betting tax and a new 6% tax on prediction markets.
According to the new budget, the tax rate on sports betting will increase from the initial 18% to 23%, with the funds set to be allocated to the Major Events, Games, and Attractions Fund, the General Fund, public education, college athletics, and gambling addiction programs. It’s also been estimated that sports betting taxes in North Carolina have generated higher tax revenue than expected, comprising over $300 million since the industry’s regulated launch in 2024.
The bill, SB 257, has been going through negotiations over the last year, with lawmakers reaching a deal a week ago, agreeing to combine the tax hikes with new audit powers that will allow state revenue authorities to review users’ betting records.
Additionally, many major operators are currently active in North Carolina, including BetMGM, Caesars, DraftKings, and FanDuel.
Regarding the prediction market tax, the state has chosen to target operators’ net trading fee revenue instead of classifying them as sportsbooks like other U.S. states, which gives North Carolina the opportunity to receive tax revenue from prediction platforms without entering the ongoing legal proceedings connected to the debate between CFTC regulation and state gambling law.
Nevada authorities have hit a former sports trader at DraftKings with felony charges for his involvement in a Fresno State basketball betting scheme.The trader, Samuel...
