Supreme Court to decide tax bill for prediction market operators

• Robinhood, Kalshi, and Crypto.com will soon hear from the Supreme Court whether or not their sports contracts can be exempt from paying federal wagering tax on the grounds that they’re not gambling.
• The companies, which haven’t been collecting wagering tax from their booming prediction markets, are set to receive a decision on their main argument at the same time.
• Robinhood asked the Supreme Court on September 10 to review its Ninth Circuit loss to Nevada’s gambling commission, and that case is now due for Nevada’s response on December 7.