Kalshi CEO says New York rejected $10B tax proposal amid crackdown
Kalshi CEO Tarek Mansour is escalating his company’s fight with New York, saying officials turned down a tax proposal that… Continue reading Kalshi CEO says New York rejected $10B tax proposal amid crackdown The post Kalshi CEO says New York rejected $10B tax proposal amid crackdown appeared first on ReadWrite .
Kalshi CEO Tarek Mansour stated that New York officials rejected a tax proposal the company believes could generate nearly $10 billion for the state over five years. In an interview on CNBC’s Squawk Box, Mansour said the proposal aimed to address concerns about tax revenue and consumer protections. However, Governor Kathy Hochul maintained that the state would not alter its position on potential tax revenue, emphasizing that Kalshi cannot evade New York laws.
New York had also sued Kalshi, alleging the company was running an illegal gambling business without state registration, while Kalshi argued its event contracts were federally regulated financial derivatives.
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