Legal
New Jersey lawmakers advance election betting ban and prediction market regulations
New Jersey lawmakers advanced a measure that would create the state's first comprehensive regulatory framework for prediction markets while banning election betting. The legislation imposes new taxes and licensing requirements on prediction market operators.
Why this matters?
Creates a state-level licensing regime that could either attract prediction market operators to New Jersey or push them to friendlier jurisdictions, depending on final tax and compliance burdens.
The bigger picture
New Jersey advances prediction-market licensing and tax rules that Kalshi and Polymarket must either absorb or litigate, joining Illinois's July 1 regime and Minnesota's felony ban now under CFTC challenge.
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