North Carolina Authorizes Prediction Markets, Raises Sports Betting Tax

North Carolina has become the first state to authorize prediction markets while raising its sports betting tax to 23%, according to Gaming Today. The combination — a first-of-its-kind authorisation for prediction markets alongside an increased betting tax — was reported as taking place in the US state of North Carolina. Gaming Today says the pairing of those decisions has created a major regulatory divide within the country’s patchwork of state rules.

The story frames North Carolina’s moves as notable because they introduce a novel regulated product at the same time the state lifts its tax rate to 23%, Gaming Today reports. That combination is described as setting North Carolina apart from other states and creating a clear split in regulatory approaches, according to the report.