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Odds that a proposed billionaire tax appears on California ballots plunge on prediction markets

CNBC · Jun 16, 2026, 5:34 PM · Also reported by 2 other sources

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  • Chances that a proposed billionaire tax will appear on California's ballot dropped from 88% to 35.5% over the last week on prediction markets platform Kalshi.
  • The plunge arrives on the heels of reports from Politico and Bloomberg News that Gov.

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Chances that a proposed billionaire tax will appear on California's ballot dropped from 88% to 35.5% over the last week on prediction markets platform Kalshi.

The plunge arrives on the heels of reports from Politico and Bloomberg News that Gov. Gavin Newsom is pushing to stop the proposed tax from appearing on November's ballot before a June 25 deadline.

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