Topic
financial derivatives
2 stories related to this topic, newest first.
Substrate placeholder — needs reviewfinance52 days ago
CFTC and DOJ Seek Federal Court Order to Block Arizona Enforcement Against Kalshi
The U.S. Commodity Futures Trading Commission and Department of Justice have filed a request in federal court to prevent Arizona from applying its gambling laws to Kalshi. The agencies argue that Kalshi's sports and event contracts qualify as financial derivatives under federal o…
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Substrate placeholder — needs reviewbusiness76 days ago
US Taxpayers Face Uncertainty in Reporting Prediction Market Winnings to IRS
Prediction markets such as Kalshi and Polymarket saw increased use in 2023, leading to questions about tax reporting for gains. The IRS has not issued specific guidelines, leaving users to apply rules from gambling, derivatives, or income categories. Platforms report varying leve…