From my knowledge as a Bio teacher, I know that they are not truly immune to venom, rather they have an extremely high tolerance. There are still cases of kings getting bitten near the head or heart and succumbing to venom.
Venom tolerance is a product of co-evolution. A good example of how this works would be cheetahs and gazelles. The faster gazelles are the ones that typically live long enough to produce offspring, passing on the genes. The faster cheetahs are the ones that are successful enough hunters to live and pass on their genes. Its called the "Red Queen" hypothesis. You have to keep evolving just to stay where youre at.
Venom tolerance in kings would work the same way. The kings that somehow (thru genetics) had greater venom tolerance were able to prey on a wider range of snakes, and were therefore be more successful. They would pass this to their offspring.
I would suspect that venom tolerance is specialized and would therefore apply to venomous snakes native to the kings natural habitat. In other words, there would be no evolutionary advantage to a NA king species having venom tolerance to a SA pit species (unless at some point there range overlapped).
So just speaking from that standpoint (and claiming no real expertise) I would guess that venom tolerance would not apply to widely separated species (unless the venom was chemically very similar to the venom of the pit species in the king's home range).
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0.1 Amelanistic Corn
0.1 Tarahumara Mtn. King
1.2 Thayeri
0.1 Gray Banded King
0.2 Kunasir Island Rats
0.1 White Oak Gray Rat
0.1 Baird's Rat
0.1 Everglades Rat
1.2 Trans Pecos Rats