On October 8, the NFL took its case all the way to the U.S. Supreme Court: prediction markets are gambling, so tax them! 😂
On the first Sunday of the season, prediction markets saw $3.3 billion in trading volume, and $1.8 billion of that was tied to NFL games — more than half the money was made riding on football, with not a single tax dollar paid, and 18-year-olds were being allowed to place bets.
What the NFL wants is simple: a 21-and-up age limit plus state taxes like a casino. Right now, the CFTC says, "This is a financial derivative, it’s under my jurisdiction," while 40 states say, "This is gambling, it’s under my jurisdiction." The two sides are fighting right at the Supreme Court’s doorstep.
Put simply, prediction markets are such a profitable business that everyone wants a piece of the action. Personally, I think the most likely ending is: platforms will be forced to raise taxes and barriers to entry, the added costs will eventually be passed on to users, and the odds will get worse and worse.
This is only my personal opinion and does not constitute any investment advice.
Which side are you on? A: Support regulation, 18-year-olds betting is way too extreme B: Prediction markets are not casinos, don’t regulate them blindly 👇
#预测市场 #Kalshi #regulation
On the first Sunday of the season, prediction markets saw $3.3 billion in trading volume, and $1.8 billion of that was tied to NFL games — more than half the money was made riding on football, with not a single tax dollar paid, and 18-year-olds were being allowed to place bets.
What the NFL wants is simple: a 21-and-up age limit plus state taxes like a casino. Right now, the CFTC says, "This is a financial derivative, it’s under my jurisdiction," while 40 states say, "This is gambling, it’s under my jurisdiction." The two sides are fighting right at the Supreme Court’s doorstep.
Put simply, prediction markets are such a profitable business that everyone wants a piece of the action. Personally, I think the most likely ending is: platforms will be forced to raise taxes and barriers to entry, the added costs will eventually be passed on to users, and the odds will get worse and worse.
This is only my personal opinion and does not constitute any investment advice.
Which side are you on? A: Support regulation, 18-year-olds betting is way too extreme B: Prediction markets are not casinos, don’t regulate them blindly 👇
#预测市场 #Kalshi #regulation