Coinbase: The Big and Beautiful Act may accelerate the development of prediction markets
2025-12-19 22:25:44
Coinbase said the Big and Beautiful Act, signed by Mr. Trump, would limit the deductibility of profits from losses, potentially exposing some taxpayers to taxes even on overall losses. The company believes prediction markets, because of their contractual nature, could be an alternative to more flexible tax treatment. Coinbase has partnered with Kalshi to promote prediction markets and has filed lawsuits against Michigan, Illinois and Connecticut, arguing for unified regulation by the federal CFTC.
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