Prediction Markets Could Bring Tax ‘Loophole' For Sports Bettors

Core Viewpoint - Sports betting platforms Kalshi and Polymarket may offer a tax advantage over traditional sportsbooks until the IRS provides further clarification on the tax implications [1] Group 1 - Kalshi and Polymarket operate in a regulatory environment that could potentially favor their tax treatment compared to conventional sportsbooks [1] - The current tax status of sports betting on these platforms remains uncertain, pending IRS guidance [1]