Senate passes permit, tax structure for event-driven "prediction" markets after amendment; sponsor stresses public-protection goals Senate File 24-70 establishes permits and taxes for event-driven contracts traded on dedicated contract markets (prediction markets). Sponsor Senator Dawson said the bill targets markets tied to sports, elections and legislative actions and includes contingency tax provisions and increased permit fees; an amendment addressing insider-participation was withdrawn and the Senate adopted amendment 51-42 before passing the bill.

The Iowa Senate has just passed a groundbreaking bill to regulate prediction markets tied to sports, elections, and more, but concerns about insider participation linger.

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