Breen Schiller is quoted in a Law360 Tax Authority article titled “States’ Prediction Market Tax Moves Set Up Federalism Fight.” The article discusses the conflict unfolding between state and federal governments over the regulation and taxation of prediction markets for platforms like Kalshi and Polymarket where users bet on real-world event outcomes. Addressing this issue, Breen comments: "The CFTC claims exclusive jurisdiction to regulate prediction markets, where states are saying that they have the ability to do it under their policing power," calling the situation a “real, live preemption battle.”
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Read “States’ Prediction Market Tax Moves Set Up Federalism Fight.” (subscription)