Regulatory Win: North Carolina Bill Grants CFTC Authority Over Polymarket and Kalshi
North Carolina has officially paved the way for regulatory clarity in the prediction market sector. A new state budget law recognizes the CFTC's federal regulatory authority over major platforms like Kalshi and Polymarket, providing a massive legal shield for these evolving digital markets.
This legislative move does more than just define oversight; it introduces a highly competitive tax structure. By setting a tax rate of just 6%, North Carolina is positioning itself as a sanctuary for prediction market operators, contrasting sharply with other states pursuing much higher tax burdens on digital betting and event-based trading.
In a strategic move to attract industry leaders, the law also implements a favorable 6% tax rate. This low tax threshold stands in stark contrast to the aggressive fiscal policies being pursued by other U.S. states, signaling that North Carolina aims to become a primary jurisdiction for the next wave of prediction market innovation.
This is a summarized and adapted version by Artificial Intelligence. To read the complete original story, visit the official source.
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