Polymarket · Republicans · Bitcoin.com News
CFTC Sues Kentucky to Shield Kalshi and Polymarket, the First Republican-Led State It’s Targeted
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The Commodity Futures Trading Commission (CFTC) sued Kentucky in federal court on June 23 to block the state’s crackdown on Kalshi and Polymarket, its ninth such suit since April, and the first against a state with a Republican attorney general.
Key facts
- The complaint also targets a novel weapon: a 14.25% excise tax on prediction-market transaction fees that Kentucky enacted in April, due to take effect January 1, 2027
- Kentucky breaks the trend: Governor Andy Beshear is a Democrat, but Republican Attorney General Russell Coleman is the one who sued Kalshi and Polymarket on June 17, alleging they run unlicensed
- Bryan Steil has introduced the Stop Lawmakers from Predicting Act, a bill that would bar House members, their…
- The Commodity Futures Trading Commission (CFTC) sued Kentucky in federal court on June 23 to block the state’s crackdown on Kalshi and Polymarket, its ninth such suit since April, and the first
Summary
The CFTC sued Kentucky on June 23, its 9th suit against a state over prediction markets since April. Kentucky is the first Republican-AG state the CFTC has sued; AG Coleman sued Kalshi and Polymarket on June 17. The suit also challenges Kentucky’s 14.25% tax on prediction-market fees, the first such state levy in the US. The Commodity Futures Trading Commission filed a complaint for declaratory and injunctive relief against Kentucky on June 23, asking a federal court to bar the state from enforcing its gambling laws and a new tax against federally regulated prediction markets.