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NC Taxes Prediction Markets for Colleges | Wilmington News
North Carolina just became the first state to tax prediction markets with a 6% fee on net trading fees, while also raising its sports betting tax to 23% — all to fund college athletics. Prediction markets, still a new frontier, are projected to bring in $1 million, while sports betting could generate over $200 million, with a big chunk going to universities. The state’s move stands out as it embraces these platforms instead of suing them, offering a 90% tax deduction for losses — a nod to federal rules. With mobile betting legalized just last year, this is the first major update to sports…
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