Sports Prediction Markets taxed as gambling?

0.5% (24h)Exchange RegulationOne-OffForeign Exchange US Politics10mo

PolymarketCheck availabilityNo KYC2% fee

Current implied probability

Yes 17%+0.0%

Market quality

44 / 100

Low quality

24h Volume

$4.5

Liquidity

$7.2K

Medium liquidity

Bid / Ask

12.0% / 22.0%

Spread

83.3%

Wide spread

7d Change

-18.5%

Market data

Updated 9 minutes ago

Jun 1, 26, 6:05 PMApr 16, 27, 4:00 AM

Trends

Outcome24hChance

Selected outcome

Yes17%

Stake (USDT)

Rules

This market will resolve to "Yes" if, by April 15, 2027, 11:59 PM ET, the IRS or U.S.

Department of the Treasury publishes formal guidance classifying losses from CFTC-regulated sports event contracts as subject to the 90% loss cap under Section 165(d) of the Internal Revenue Code, as amended by the One Big Beautiful Bill Act (Public Law 119-21).
Otherwise, this market will resolve to "No".
For purposes of this market, sports event contracts are contracts whose payoff is determined by the outcome, score, or statistical result of an athletic competition listed on a CFTC-designated contract market or swap execution facility.
Qualifying guidance must be published in the Internal Revenue Bulletin or the Federal Register as a Revenue Ruling, Revenue Procedure, IRS Notice, IRS Announcement, final or temporary Treasury Regulation, or proposed Treasury Regulation that remains published without withdrawal for at least 30 calendar days after its Federal Register publication date.
Guidance qualifies if it expressly applies Section 165(d) to such contracts or classifies them as wagering transactions for federal income tax purposes.

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Rules

This market will resolve to "Yes" if, by April 15, 2027, 11:59 PM ET, the IRS or U.S.

Department of the Treasury publishes formal guidance classifying losses from CFTC-regulated sports event contracts as subject to the 90% loss cap under Section 165(d) of the Internal Revenue Code, as amended by the One Big Beautiful Bill Act (Public Law 119-21).
Otherwise, this market will resolve to "No".
For purposes of this market, sports event contracts are contracts whose payoff is determined by the outcome, score, or statistical result of an athletic competition listed on a CFTC-designated contract market or swap execution facility.
Qualifying guidance must be published in the Internal Revenue Bulletin or the Federal Register as a Revenue Ruling, Revenue Procedure, IRS Notice, IRS Announcement, final or temporary Treasury Regulation, or proposed Treasury Regulation that remains published without withdrawal for at least 30 calendar days after its Federal Register publication date.
Guidance qualifies if it expressly applies Section 165(d) to such contracts or classifies them as wagering transactions for federal income tax purposes.

Sports Prediction Markets taxed as gambling?

0.5% (24h)Exchange RegulationOne-OffForeign Exchange US Politics10mo

PolymarketCheck availabilityNo KYC2% fee

Current implied probability

Yes 17%+0.0%

Market quality

44 / 100

Low quality

24h Volume

$4.5

Liquidity

$7.2K

Medium liquidity

Bid / Ask

12.0% / 22.0%

Spread

83.3%

Wide spread

7d Change

-18.5%

Market data

Updated 9 minutes ago

Jun 1, 26, 6:05 PMApr 16, 27, 4:00 AM

Trends

Outcome24hChance

Selected outcome

Yes17%

Stake (USDT)

Rules

This market will resolve to "Yes" if, by April 15, 2027, 11:59 PM ET, the IRS or U.S.

Department of the Treasury publishes formal guidance classifying losses from CFTC-regulated sports event contracts as subject to the 90% loss cap under Section 165(d) of the Internal Revenue Code, as amended by the One Big Beautiful Bill Act (Public Law 119-21).
Otherwise, this market will resolve to "No".
For purposes of this market, sports event contracts are contracts whose payoff is determined by the outcome, score, or statistical result of an athletic competition listed on a CFTC-designated contract market or swap execution facility.
Qualifying guidance must be published in the Internal Revenue Bulletin or the Federal Register as a Revenue Ruling, Revenue Procedure, IRS Notice, IRS Announcement, final or temporary Treasury Regulation, or proposed Treasury Regulation that remains published without withdrawal for at least 30 calendar days after its Federal Register publication date.
Guidance qualifies if it expressly applies Section 165(d) to such contracts or classifies them as wagering transactions for federal income tax purposes.

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What will OpenAI's IPO valuation be?

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S&P 500 ETF (SPY) Up or Down - Daily

Yes: 77.2%

LIMITLESS

Active in these topics

BitcoinBTC$62,797.13+1.90%

EthereumETH$1,657.34+1.24%

SolanaSOL$65.15+1.60%

XRPXRP$1.12+0.34%

BNBBNB$600.20+2.30%

DogecoinDOGE$0.085+1.30%

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Solana Institute CEO says CLARITY Act must shield open-source developersCointelegraph

Former Epstein assistant Lesley Groff appears before House panel Crypto News

Paradigm challenges FDIC over controversial stablecoin yield banCrypto News

Rules

This market will resolve to "Yes" if, by April 15, 2027, 11:59 PM ET, the IRS or U.S.

Department of the Treasury publishes formal guidance classifying losses from CFTC-regulated sports event contracts as subject to the 90% loss cap under Section 165(d) of the Internal Revenue Code, as amended by the One Big Beautiful Bill Act (Public Law 119-21).
Otherwise, this market will resolve to "No".
For purposes of this market, sports event contracts are contracts whose payoff is determined by the outcome, score, or statistical result of an athletic competition listed on a CFTC-designated contract market or swap execution facility.
Qualifying guidance must be published in the Internal Revenue Bulletin or the Federal Register as a Revenue Ruling, Revenue Procedure, IRS Notice, IRS Announcement, final or temporary Treasury Regulation, or proposed Treasury Regulation that remains published without withdrawal for at least 30 calendar days after its Federal Register publication date.
Guidance qualifies if it expressly applies Section 165(d) to such contracts or classifies them as wagering transactions for federal income tax purposes.