Taxing Online Gaming & “gamified” financial trading

What is happening? Legislatures are looking at how to tax online sports wagering. For sorts wagering, NJ taxes  14 percent of the winnings & NY taxes 51%!

Why is this important? Some are saying sports gaming taxes are akin to taxes that should be on the gamification of financial trading by “trading apps that critics claim often underplay risks and encourage emotional, impulsive behavior by rookie investors.”

How will this be important? If states tackle a financial transaction tax, some say a uniform multistate umbrella tax regime for short-term profits is the way to go.

Governing | The Online Gambling Gusher and How to Tax It