Prediction market taxes: which forms each platform sends
This page lists the tax forms and statements each platform says it provides, in its own words, with the date we checked. It is not tax advice, and we do not say how event contracts are taxed. Ask a tax professional, and treat the operator’s own tax page as final.
| Platform | What the platform says it sends | Where to find it | Source and date checked |
|---|---|---|---|
| Kalshi | 1099-INT for interest, 1099-MISC for credits and rewards, 1099-B for broker transactions (crypto transfers), and 1099-DA from ZeroHash, to users who hit IRS reporting thresholds. Kalshi also gives a yearly profit and loss figure (FIFO, fees and rebates included), updated monthly. | Account tab → Tax Info. Some forms arrive by email from Zenwork. |
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| Robinhood | No 1099 for event contract trades; Robinhood says it does not report them to the IRS. An event contracts annual statement arrives in late January or early February, and Robinhood says it is not a substitute tax reporting form. | Account → Reports and statements → Annual reports. |
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| Crypto.com | May send a Form 1099-B to U.S. persons who traded contracts. Its 1099-B describes them as “Regulated Futures/Options” and fills boxes 8–11 (profit or loss on closed and open contracts). Also 1099-MISC for rewards of $600 or more and 1099-DA for certain digital asset transactions. | Email from no-reply@crypto.com with a download link; paper copy via In-App Chat. |
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| Novig (per its tax-reporting help article; may not cover the Ludlow Exchange product) | A 1099-MISC if your redemptions for the year were $2,000 or more and your net redemptions (redemptions minus purchases) were above $0. It reports net redemptions, not net trading profit. Sent in the first two weeks of February. | Email and physical mail to the addresses on file; trading history via Live Chat. |
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| Polymarket US | Its participant agreement says tax forms, including IRS Form 1099-B, are delivered electronically. We found no Polymarket US page that lists which forms it sends or when. | PENDING. |
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| DraftKings Predictions | DraftKings says event contract payments may be classified as income and reported on Form 1099 as applicable. It does not name the form. | PENDING. |
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| Coinbase | Coinbase says prediction market gains may be considered taxable income. Its intro page does not say which form it sends: PENDING. | PENDING. |
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| PredictIt | PENDING. See PredictIt’s FAQ. | PENDING. |
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| FanDuel Predicts | We did not find a tax-forms page for this product. Ask the operator. | ||
| Fanatics Markets | We did not find a tax-forms page for this product. Ask the operator. | ||
| Underdog | We did not find a tax-forms page for this product. Ask the operator. | ||
| ProphetX | We did not find a tax-forms page for this product. Ask the operator. | ||
| Webull | We did not find a tax-forms page for this product. Ask the operator. | ||