It's also worth being clear - that's what this is all about. If you look at the members of Congress who are upset about federal regulation on prediction markets: -They all come from states with *billions* in casino revenue. -They all have donations from casino lobbying based groups. -Nearly all of them supported the legislation that allowed sports gambling to aggressively advertise nationally. Prediction markets make less on user trades as they are peer-to-peer regulated financial entity taking a trade fee, not the other side of the bet. So even if you taxed them in each state, they'd pay less tax. Lobbyists don't like that. But they love the narrative of "they don't pay tax"(Adam Cochran (adamscochran.eth))