By SectorWire desk ·
Nevada argued that North Carolina’s prediction market tax undermines Kalshi’s opposition to state oversight on 24 August 2026. The dispute concerns whether states can regulate or tax Kalshi’s event-contract operations.
The dispute concerns states’ authority to oversee and tax prediction market operators’ activities.
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Nevada argues Kalshi’s acceptance of North Carolina’s trading revenue tax acknowledges state regulatory power and supports Nevada taxation.
The dispute concerns whether states can apply gambling rules to sports-event contracts offered by federally regulated exchanges.
The findings bear on state challenges to Kalshi and Polymarket's position that their contracts fall exclusively under CFTC jurisdiction.
The analysis questions Kalshi’s explanation for concentrated activity in its ether perpetual contracts.
The new contracts allow partial settlement rather than requiring players to reach the full statistical target.
The dispute could affect whether prediction market operators face state gambling laws alongside federal oversight.