TLDR Kentucky’s gaming board chairman expects the state’s attorney general to take action against prediction markets within months Polymarket pulled Kentucky Derby contracts after Churchill Downs requested their removal Kentucky’s attorney general joined 40 other state officials urging the CFTC to block sports contracts on prediction markets State lawmakers passed a bill banning licensed sportsbooks from offering prediction market products and a 14.25% tax on prediction market revenue The KHRGC approved Plannatech’s takeover of Prime Sports, which filed for bankruptcy in November 2025
The chairman of the Kentucky Horse Racing and Gaming Corporation said Tuesday he expects the state’s attorney general to take action against prediction markets in the coming months.
Jonathan Rabinowitz made the comments during a board meeting, one day after Attorney General Russell Coleman posted about prediction markets on X.
“I’ve had multiple meetings with the attorney general on prediction markets, and it would not surprise me if they took action in the next few months on behalf of the state,” Rabinowitz said.
The warning comes after Polymarket briefly offered contracts on the Kentucky Derby before Churchill Downs asked the operator to remove them. That happened less than two weeks before Tuesday’s meeting.
Rabinowitz pointed to horse racing regulation as a clear line. He said the state’s authority over the sport is why no prediction market was allowed on the Derby.
Coleman has already shown where he stands on the issue. Late last month, he joined attorneys general from 39 other states and the District of Columbia in signing a letter to the U.S. Commodity Futures Trading Commission.
There’s not a dollar’s worth of difference between prediction markets’ sports contracts & sports betting. Along w/nearly every other AG in the country, we’re asking the federal government to recognize that states are able
Leave a Reply