Every Zipp story tagged #StateRegulation, newest first.
Combined Kalshi and Polymarket volume slid to $45.3B, the first monthly decline in a year and a clean signal that the summer sports-driven spike was event-dependent, not structural.
The dispute pits state gambling laws against federal oversight, while proposed consumer protections could shape whether event contracts expand across the U.S.
With three industry groups now aligned against the levy, the suit escalates from a state-budget line item into a precedent fight over digital asset taxation.
The complaint argues the 2027 levy is a sales tax applied to assets Illinois already classifies as non-possessory, double-taxing what the state itself has said does not exist as property.
The 32-page complaint argues digital assets are being taxed because of the technology itself, not the economic substance, and asks a state court to halt the levy before it takes effect.
A 6% tax on net fee revenue resolves the state's standoff with federal derivatives oversight, but leaves other states still contesting where prediction-market jurisdiction actually sits.
The bond had cleared Moody's with a Ba2 rating and would have been the first state-backed debt tied to a public miner; the rejection does not change New Hampshire's broader crypto posture.
The vote is the first concrete state-level rejection of municipal Bitcoin-collateralized debt and lands weeks after several states warmed to the same instrument.
A federal-event-contract license is not a state-arena pass: a $1B damages claim lets tribal and state plaintiffs drag any venue back into state court, even after Kalshi's CFTC win.
SDNY Judge Torres ruled the CEA does not preempt state gambling law over Kalshi's sports-event contracts, putting the fight with regulators in the world's financial capital squarely in the loss…
The state-versus-CFTC fight over who regulates prediction markets just got its first concrete court loss for Kalshi, and the TRO is only the opening round.
The per-transaction levy lands on exchanges, wallet-to-wallet moves, and custody — a structural drag on retail activity in a state that already ranks among the larger US crypto markets.
The state sidesteps the federal capital-gains framework entirely — a per-transaction levy that hits rebalances, wallet moves, and DeFi swaps the same way it hits a profitable sale.
A deep-red state joining the state-level fight puts Kentucky's GOP attorney general on the opposite side of a Trump-aligned CFTC — and the contradiction is now the story.
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