Scan to download
BTC $64,289.98 +0.37%
ETH $1,665.81 -0.64%
BNB $611.11 +0.44%
XRP $1.12 -1.50%
SOL $67.69 -0.52%
TRX $0.3167 -0.17%
DOGE $0.0864 -1.90%
ADA $0.1675 -3.60%
BCH $202.21 -3.10%
LINK $7.86 -1.58%
HYPE $60.99 +3.24%
AAVE $65.98 -1.45%
SUI $0.7540 -1.65%
XLM $0.1830 -2.94%
ZEC $426.24 +3.06%
BTC $64,289.98 +0.37%
ETH $1,665.81 -0.64%
BNB $611.11 +0.44%
XRP $1.12 -1.50%
SOL $67.69 -0.52%
TRX $0.3167 -0.17%
DOGE $0.0864 -1.90%
ADA $0.1675 -3.60%
BCH $202.21 -3.10%
LINK $7.86 -1.58%
HYPE $60.99 +3.24%
AAVE $65.98 -1.45%
SUI $0.7540 -1.65%
XLM $0.1830 -2.94%
ZEC $426.24 +3.06%

rad

Kalshi, Polymarket and other prediction market platforms jointly sued Kentucky over a 14.25% trading tax

According to Abcnews, several prediction market platforms including Kalshi, Crypto.com, and Polymarket have formed an alliance and filed a lawsuit in state court this Friday, attempting to block Kentucky's newly implemented 14.25% prediction market transaction tax.This tax was passed by the Kentucky legislature in April of this year, targeting transaction fees on prediction market platforms, with a rate of 14.25%, which is higher than the local horse racing industry's tax burden of about 9.75%. The plaintiffs in the lawsuit claim that the tax is discriminatory, unconstitutional, and may conflict with federal law.Prediction market platforms allow users to trade contracts on real-world events (such as economic data, election results, etc.), essentially belonging to the event derivatives market. The plaintiffs argue that this tax will significantly raise compliance costs and may force trading activities to shift to offshore platforms with weaker regulations.Kentucky Attorney General Russell Coleman stated that he will vigorously defend the law in court and asserted that the state government is capable of handling the related challenges.Meanwhile, Kalshi stated that excessive state-level tax burdens will weaken the competitiveness of the legal market and may drive users to illegal trading platforms that lack regulation and protection.This case is seen as the latest development in the ongoing conflict between the U.S. prediction market industry and state regulatory and tax systems.

Gate has completed the distribution of SpaceX (SPCX) stocks and officially opened trading

Gate announced that SpaceX (SPCX) is now officially open for trading, and users can participate in SPCX trading through the Gate stock section. As the first project of Gate's IPO Access, SpaceX has completed stock distribution and has officially entered the real stock trading phase.At the same time, Gate has launched exclusive benefit activities for users subscribing to SpaceX (SPCX), where participants in designated USDT surplus products can enjoy up to 200% annualized returns, and holding USD1 can also enjoy additional rewards. The platform has simultaneously launched the "SPCX Stock Launch Plan" limited-time event. During the event, users participating in stock trading can receive first-order rewards, and sharing their SPCX holdings has a chance to receive stock airdrops. Completing designated trading volumes and participating in leaderboard competitions can also share a total prize pool of SPCX stocks worth 50,000 USDT.In addition, Gate stocks have launched a stock trading web platform, achieving comprehensive coverage on both App and Web. Gate stocks support trading over 10,000 mainstream U.S. market stocks and ETFs using USDT, covering major U.S. securities trading markets such as the NYSE and NASDAQ, and support fractional trading starting from 0.01 shares. With the launch of IPO Access, Gate is gradually improving its product ecosystem covering Pre-IPO, IPO, and stock trading, providing users with a more convenient one-stop global investment experience.
app_icon
ChainCatcher Building the Web3 world with innovations.