Topic
gambling winnings
1 stories related to this topic, newest first.
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…