New Jersey committees advance 9% prediction market surtax bills
New Jersey’s Senate Budget and Appropriations Committee and Assembly Budget Committee advanced companion bills on 28 June, sending them to second reading in their respective chambers. The revised proposals would add a 9% surtax on prediction market platforms’ gross income for a tax year; the Office of Legislative Services estimates $10.3 million to $15.3 million in additional state revenue in fiscal year 2027.
Prediction market platforms may face an additional state tax if the bills pass.