West Virginia lawmakers introduced House Bills 4397 and 4398 to raise taxes on adjusted gross receipts from interactive wagering and sports betting. The proposals would increase the respective rates from 15% and 10% to 25%, while retaining weekly reporting and payment requirements.
If enacted, both bills would raise the tax rates applied to operators’ adjusted gross wagering receipts in West Virginia.
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Pennsylvania lawmakers have introduced legislation to create a regulatory framework for prediction markets. The proposal would set operating rules for the sector and does not impose a tax, the outlet reported. It contrasts with other states that have pursued taxation or contract bans.
New Jersey lawmakers proposed a 9% tax on prediction-market companies’ gross income in bill S4447. The amended bill passed the Senate Budget and Appropriations Committee by a 9-4 vote; the report says it recognises the CFTC’s regulatory role and drops an earlier licensing proposal.
New Jersey senators Nicholas Scutari and Paul Sarlo introduced a bill to regulate prediction markets and require operators to obtain state permits. The proposal would add a 10% tax surcharge to prediction-market trades, including sports-related contracts, and set a $5 million initial licensing fee for firms offering sports contracts; it has been referred to the Senate Budget and Appropriations Committee.
Representatives Dan Goldman and Blake Moore introduced the Gambling Disorder Health Study Act on 3 June, proposing a multi-year federal study of gambling disorder and prevention and treatment approaches. The bill would direct 10% of federal excise tax revenue on state-authorised wagers to fund the work for up to three fiscal years, with annual reports to Congress from the Health and Human Services Secretary.
Commerce and Bell Gardens plan to propose a 0.25% sales tax increase as new California rules threaten cardroom revenue, according to the report. Bell Gardens officials said cardroom taxes generate more than $17m annually, while Commerce’s mayor estimated the proposal could recover at least $4.5m against expected losses of $8m-$18m. The rules take effect on 1 April, and voters may decide on the tax proposals in June.