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Tax Relief Nebraska cites $87m five-year online betting tax estimate

Regulation

Research commissioned by Tax Relief Nebraska estimates that legal online sports betting could generate just under $87m in tax revenue over five years. The study projects that about 70% of the revenue, roughly $61m, would go towards property tax credits. Tax Relief Nebraska has begun collecting signatures to seek a place for the proposal on Nebraska’s 2026 ballot.

The proposal and revenue projections could shape debate on online betting and its possible tax treatment in Nebraska.

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Regulation

Ted Cruz to file bill giving states control over sports prediction markets

US Senator Ted Cruz is preparing legislation that would give state and tribal governments authority over sports-related contracts offered by prediction markets, citing Bloomberg Law. Cruz intends to file the bill after the 3 November midterm elections. The measure would bar operators from offering contracts linked to gambling activities, including sports betting, without approval from the relevant state or tribal government.

A bill granting state and tribal governments say over sports contracts sold by prediction markets is being drafted by US Senator Ted Cruz, Bloomberg Law reported. He plans to introduce it once the November 3 midterm elections are over. As of now, the text is absent from Congress' website.

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