New Jersey Targets Prediction Markets with Tax | Newark News

New Jersey lawmakers are poised to tax prediction market operators with a 9% income tax, marking the first major regulatory step for these fast-growing platforms—seen as a move to level the playing field with sports betting. The bill, approved along party lines by both Senate and Assembly budget committees, could generate $10.3M–$15.3M annually, fueling the push for oversight. Critics warn the tax could legitimize illegal operations, drain casino revenue, and hurt jobs. This is just the start—more action is expected as lawmakers eye how to manage and monetize these emerging betting markets. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/cba3796b31f99197