New Delhi, Feb. 10 -- Reacting to the government's move to raise the Securities Transaction Tax (STT) on futures and options (F&O), Zerodha co-founder and chief executive officer Nithin Kamath said, "If you think the Indian markets are speculative, the US markets will blow your mind."

In a post on X (formerly Twitter) Kamath said the US markets are a "pure speculative mania", adding that investors there can "bet on literally anything".

The Indian entrepreneur's remarks come after Finance Minister Nirmala Sitharaman announced a sharp hike in STT on both futures and options during her Union Budget 2026 speech.

On 1 February, FM Sitharaman said the rate will be increased by a massive 150% on futures transactions and 50% on options transac...