10/30/2026
Election betting is turning into a $220M market—but the tax rules are still murky. Are prediction market winnings treated as gambling income, capital gains, or something else? The answer could change your tax bill in a big way. Find out what taxpayers need to know before filing.
As prediction market trading reaches $220M for the 2026 midterms, learn how the IRS treats election bets across gambling, capital gains, and Section 1256.