Prediction market operators have reportedly filed a lawsuit challenging Kentucky’s new tax on prediction markets. The available report does not identify the operators or provide further details about the case.
The challenge could affect the tax obligations of prediction market operators in Kentucky.
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It was reported that the Tax Law Center published an analysis on 1 October arguing that US sports prediction contracts qualify as wagers for federal taxation. Its interpretation would bring these contracts within gambling provisions covering excise taxes, winnings and loss deductions. The analysis calls for IRS clarification to reduce uncertainty.
An analysis from the Tax Law Center, dated Oct. 1, examines whether contracts tied to sporting events on venues like Kalshi belong within the federal rules that govern gambling. The center's position is that such contracts amount to wagers for federal tax purposes.
Italy’s Senate gave final approval to a bill converting the excise decree into law, according to the report. It retains rules treating specified responsible-gambling communications by public gaming concessionaires as representation expenses and bars tax deductions for spending on prohibited gambling sponsorships, applying from the tax period after the one ending on 31 December 2025. Proposed extensions covering affiliate marketing, influencers and bonuses were rejected.
Brazil’s Supreme Federal Court (STF) is considering the constitutionality of Provisional Measure 1,394/2026, which temporarily suspended the regulated fixed-odds betting market. At a 3 November hearing, Justice Luiz Fux raised questions about legal certainty, non-retroactivity and the measure’s constitutional basis; the source says the court may consider how a ruling affects companies already approved. A separate appellate ruling granted temporary relief to CDA Gaming, though the source text ends before detailing its effect.
Justice Luiz Fux of the Supreme Federal Court (STF) scheduled a hearing on November 3, and 36 associations attended to debate Provisional Measure (MP) 1,394/2026. Under that measure, Brazil's regulated fixed-odds betting market was put on temporary hold.
Researchers from four Irish universities have proposed tighter gambling controls in Ireland, including restrictions on low-cost scratchcards, according to the study. It suggests minimum gambling spend thresholds of €5, €10 or €15 and measures such as stricter advertising rules, health warnings and higher taxes. Lead author Dr Frank Houghton of the Technological University of the Shannon said policymakers could draw on tobacco-control measures.
Researchers from four Irish universities are calling for tighter gambling controls, with low-cost scratchcards among the targets. They suggest setting the lowest permitted gambling spend at €5, €10 or €15, aiming to curb impulsive play and gambling by under-age people.
Brazil's Federal Court of Accounts (TCU) unanimously dismissed a complaint alleging federal inaction over illegal betting, ruling that it did not identify a specific unlawful act or an unfulfilled duty. The court noted that the Ministry of Finance's betting secretariat had monitored and acted against unauthorised operators before Provisional Measure 1.394/2026; the measure remains subject to congressional review.
Brazil's Federal Court of Accounts (TCU) has dismissed and archived a complaint alleging omission, inertia or insufficient action by the state and federal bodies over the spread of illegal betting platforms. The Second Chamber approved ruling 5.284/2026 unanimously at its session on 27 October. It found that the complaint pointed to no unlawful act, no body that failed to act and no unfulfilled duty.