# Who sends you a tax form, and who sends nothing

Four cards in this catalogue claim tax reporting, and the documents behind that flag are not the same document. What each venue's own writing says it issues.

*https://predictionmarkets.tools/guides/who-sends-you-a-tax-form · background to Prediction Market Venues*

**Answer:** Three things decide it: whether a venue holds an account for you, whether it knows your legal identity, and whether what you hold is denominated in money at all. Regulated US venues and brokers do send year-end paperwork, but it is often a statement rather than a tax form, and one of them says outright that it reports nothing about event-contract trades. On-chain venues send nothing, and play-money platforms have nothing to send.

## How it works

A document arrives because somebody is in a position to produce it. That takes three things, and
which of them a venue has decides everything else on this page.

**Somebody has to hold an account for you.** Not a wallet you control and a smart contract you
interact with — an account, on their books, with a balance they are answerable for. That is the
party that knows what you paid, what you received and what it charged you in between.

**Somebody has to know who you legally are.** A record of trades attached to an address is not
attached to a person. Identity arrives through KYC, and on the venues discussed here it is a
separate step from having an account at all — see
[Why a venue is unavailable where you are](https://predictionmarkets.tools/guides/why-a-venue-is-unavailable-where-you-are) for
what that check is actually doing.

**What you hold has to be denominated in money.** A currency that cannot be withdrawn, sold or
exchanged produces no proceeds figure, because there is no transaction in money to describe.

Those three conditions sort the catalogue into four groups, and the groups do not line up with
what most readers expect. The regulated US venues are not uniform. The on-chain venues are
uniform, and the uniform answer is nothing.

### The party that sends is the party that clears

On a US event exchange there are usually at least two legal entities between you and the
contract, and the paperwork comes from the one holding the money rather than the one listing the
market.

Kalshi is unusual in running both halves itself: members sign a separate agreement with Kalshi
Klear LLC, its clearing organisation, and it is that agreement — not the exchange's member
agreement — that contains the tax clause. Paragraph W of the copy stamped 5.25.26 in its footer
has the member consent to
[electronic delivery](https://kalshi-public-docs.s3.amazonaws.com/regulatory/agreement/klear_member_agreement.pdf)
of all tax forms, "including, without limitation, IRS Form 1099-B, or such other tax forms as
Klear may determine are required." Polymarket US carries the same clause in the same place:
paragraph 23 of the Individual Participant and Clearing Member
[agreement](https://www.polymarketexchange.com/files/legal/latest/participant-agreement), version
1.4, last updated 6 August 2026, has you consent to electronic delivery of all tax forms
"including, without limitation, IRS Form 1099-B."

Read those clauses for what they are. Both are consents to a delivery method and a reservation of
the right to issue; neither is a statement that a particular form will be issued, for a particular
kind of activity, in a particular year. A consent to receive is not a promise to send.

ForecastEx is the clean case at the other end, because it has no direct retail members at all.
Rule 304 of the
[rulebook](https://data.forecastex.com/regulatory/ForecastEx_LLC_Rulebook.pdf) — version date 17
September 2026 — provides that a person not eligible to become a Member may enter into Forecast
Contracts only by becoming a Customer of an FCM Member or a Sponsored FCM, and that the FCM "shall
be financially responsible for all of the Customer's activity." Rule 305 puts the customer account
requirements, the segregated-funds computations and the daily statements on the FCM as well. The
account is at the broker. So is the identity check, so is the record, and so is anything that
arrives in January. The word "tax" appears exactly once in that rulebook, in a housekeeping rule
about how long ForecastEx keeps its own income tax returns.

That is the general shape: **ask who clears, and you have asked who sends.**

## What each venue's own writing says

### Kalshi: four forms, none of them about your trading

Kalshi's help centre has a Taxes and Documents collection with three articles, and the
[central one](https://help.kalshi.com/en/articles/13823849-what-tax-documentation-does-kalshi-provide)
— dated 22 June 2026 — enumerates what members who hit IRS reporting thresholds receive. It is
worth reading the list slowly, because what is on it is not what a reader assumes:

- **1099-INT**, described as containing interest payments from Kalshi.
- **1099-MISC**, described as containing credits and rewards from Kalshi.
- **1099-B**, described as containing transaction proceeds from broker transactions, with "crypto
  transfers" given in parentheses as the example.
- **1099-DA**, described as digital asset transaction reporting from ZeroHash.

Interest, promotional credit, crypto movements and digital-asset dispositions. Nothing in that
list is described as the proceeds of buying and selling event contracts. The number covering that
lives elsewhere on the same page, in a different kind of object: a **Profit and Loss statement**,
downloadable per year from the Tax Info page in the Account tab, computed First-In-First-Out,
inclusive of fees and rebates, and refreshed on the first morning of each month rather than
continuously. The article says in terms that this is a tool to assist members, that it is not tax
advice, and that the member remains responsible for the accuracy of their return.

The identity step sits behind this and is narrower than it looks. A separate
[article](https://help.kalshi.com/en/articles/16083491-how-to-add-your-social-security-number)
states that a Social Security Number is used for identity verification and required tax reporting,
gives a 1099-MISC for credits and rewards as the example, and then says that SSN verification is
**not required** for depositing, for trading, or for withdrawing by non-crypto methods. Read
together with the form list, that is coherent: the identity Kalshi needs is the identity a
*payment* from Kalshi requires, and your own trading result is not a payment from Kalshi.

### Robinhood: an annual statement, and no 1099, stated outright

Robinhood is the venue that says the quiet part in its own help centre, and the
[article](https://robinhood.com/us/en/support/articles/event-contracts-taxes-statements/) is the
most direct primary source on this page. Under a heading of Taxes it states that the IRS has not
issued specific guidance on the tax implications of trading event contracts, and that as a result:
event contract trades are not reported to the IRS by Robinhood; Robinhood does not provide a 1099
for event contract trades; and taxes related to event contracts are the customer's sole
responsibility.

What it does provide is an **event contracts annual statement**, issued after the end of each
calendar year, "typically in late January or early February," reached through Account, then
Reports and statements, then Annual reports. The article lists its contents: individual
transactions, closing dates, costs, proceeds, fees and commissions, and net profit and loss. It
calls that statement the authoritative record of all costs, proceeds and net profit and loss for
the year — and then adds, in a note of its own, that the annual statement "is not a substitute tax
reporting form."

So the same document is simultaneously the most complete record the venue will give you and
explicitly not the thing a tax form is. Both halves are true and they are not in tension; they are
the distinction this whole page turns on.

Two smaller details in the same article matter to anyone reconciling numbers. The in-app realized
profit and loss view, reached through Investing and then Realized profit and loss with prediction
markets selected from the dropdown, **does not include fees** — the article says so directly. And
the period summaries in that view "may not exactly match your broker statement due to the timing
of settlements." Three surfaces, three numbers, and the article names the statement as the one
that governs.

### Polymarket US: the clause exists, the documentation does not

Polymarket US has the consent clause quoted above, mandatory KYC, dollar settlement and an
exchange-run account. What it does not appear to have, on 21 September 2026, is any published page
describing what it issues at year end. Its documentation
[index](https://docs.polymarket.us/llms.txt) lists 353 pages and the string "tax" does not occur in
any title or description on it. The index does carry an extensive reporting surface — a
[trader guide](https://docs.polymarket.us/trader-guide/reporting) covering trade, order and
execution search, CSV downloads of trade, execution, position and fee reports, and two streaming
ledger exports — but reporting there means reconciliation and compliance, not a form in the post.

We could not find a Polymarket US document stating which forms it issues or when. That is a
finding rather than an omission: the operative promise is the participant agreement's paragraph
23, and it names a delivery method rather than a schedule. See
[Polymarket US](https://predictionmarkets.tools/tools/polymarket-us) for the rest of what the exchange does and does not publish.

### PredictIt: one form, on a figure it publishes itself

PredictIt is the only venue here whose published material describes a form covering trading
results rather than payments. Its public FAQ endpoint carries an article titled "How do you
calculate a trader's net profit for tax reporting purposes?", which states that PredictIt is
required to issue a Form 1099 to a US-resident trader whose net profit for a calendar year reaches
a figure the FAQ names, and then gives the arithmetic it uses:

> Net Profit = Gross Profits – Losses – Trading Fees – Withdrawal Fees.

The detail worth carrying away is in the next sentence. The 5 percent withdrawal fee is included
in that calculation "whether or not the funds in question have actually been withdrawn from the
account." So the figure the platform computes for reporting purposes is net of a fee you may not
have paid, on money you may not have moved — which is a different number from the one a
spreadsheet of your fills will produce, and the difference is structural rather than an error by
either party.

The terms of use close the loop on identity from the other direction: they state that when you
have made more profit than the US limit for reporting income you must provide a valid SSN or ITIN,
and that failure can result in the account being frozen for both future positions and withdrawals.
On [PredictIt](https://predictionmarkets.tools/tools/predictit) the identity requirement is triggered by the profit, rather than
sitting at the door.

This page does not reproduce the figure. It is published, it is on the FAQ cited below, and what
it means for any particular person is a question for their own adviser rather than for a
catalogue.

### Crypto.com Prediction: a general 1099 page that never mentions event contracts

This is the card whose flag is hardest to stand behind, and it is worth being exact about why.

Crypto.com publishes a
[1099 article](https://help.crypto.com/en/articles/5948842-1099-form-for-the-2025-tax-year) — dated
19 February 2026 — describing three forms it may issue to US persons: a 1099-MISC for rewards, a
1099-DA for digital-asset dispositions, and a **1099-B** for a US person "who traded contracts
during the tax year." The 1099-B section even walks the boxes: Box 1A described as "Regulated
Futures/Options", Box 8 for profit or loss realized on closed contracts, Boxes 9 and 10 for
unrealized profit or loss on open contracts at the end of the prior and current tax years, and Box
11 for the aggregate of the three. Forms are delivered by an emailed download link rather than by
post.

That is a genuinely different shape of form from everything above — it reports a mark-to-market
aggregate rather than a list of dispositions. But the article is a general Crypto.com article and
it does not name event contracts, prediction contracts or the exchange that lists them. The help
centre's own
[Prediction Trading article](https://help.crypto.com/en/articles/11373970-prediction-trading),
updated 16 September 2026, covers fees, order types and scenarios and says nothing about tax
documents at all. Crypto.com Prediction's contracts are listed by a separate designated contract
market, reached through the app, with a separate account opened inside it — the structure set out
on [Crypto.com Prediction](https://predictionmarkets.tools/tools/crypto-com-prediction-markets).

So: a 1099-B shape exists on this venue for contracts, and no published page says an event
contract is one of them. We could not resolve that from the company's own material.

## The on-chain case: public is not the same as reported

[Polymarket](https://predictionmarkets.tools/tools/polymarket) is the clearest example, and the answer is short. There is no
account in your name. Signup is a wallet, the ordinary flow carries no identity check, and the
terms of use put the question on you and keep it there: using the site "may result in tax
consequences," and it is "your sole responsibility to determine whether there are any tax
consequences from any transactions you initiate," including compliance in your tax resident
jurisdiction. Nothing in those terms undertakes to produce a document, because there is nobody
holding an account to produce it for.

The same silence, more completely, on the smaller on-chain venues:
[Limitless](https://predictionmarkets.tools/tools/limitless) and [Myriad](https://predictionmarkets.tools/tools/myriad) publish terms in which the word "tax"
does not appear at all — the Limitless terms re-read on 21 September 2026, the Myriad terms in the
copy read for this catalogue on 19 September 2026, which carries its own date of 13 January 2026.
Both are cited below so the absence can be checked rather than taken on trust.

The tempting inference — that an on-chain position is *better* documented, because the chain is
public — is the mistake this section exists for. Everything is on the chain: every fill, every
transfer, every resolution payout, permanently and for anyone. What is not on the chain is any of
the structure a record needs. There is no cost basis, no realisation event marked as such, no fee
column separated from the trade, no currency conversion, no counterparty name and no year
boundary. Producing those means indexing an address and computing them, which is a piece of
software, not a download — and it is what the analytics cards in this catalogue actually do.
[What wallet tracking shows](https://predictionmarkets.tools/guides/what-wallet-tracking-shows) is the longer version of what
that indexing can and cannot see.

Worth saying once, plainly: public also means public. An address with a position history is
readable by anyone who has the address, which is a different privacy posture from a KYC account,
not a stronger one. [Where your key lives](https://predictionmarkets.tools/guides/where-your-key-lives) covers the custody side of
the same fact.

## Play money: there is no proceeds figure to report

The third case is not a weaker version of the first two, it is a different question.

Where the currency cannot leave, there is no transaction in money to describe. Manifold's terms of
service, last updated 31 January 2026, state it as flatly as it can be stated: mana "has no cash or
redeemable value," and while it can be purchased, it "cannot be cashed out, sold, traded,
transferred, gifted, or exchanged — whether on the Site or elsewhere — for money, property,
products, services, or any other consideration." A mana pack is a purchase, not a deposit. A mana
balance is not an amount of money, so it is not an amount of money at year end either. Every card
in [play money](https://predictionmarkets.tools/collections/play-money) shares that property.

The interesting edge is where money does reach a forecaster, and it always arrives from the other
direction: a prize, from a named payer, for a result. Manifold's own terms put identity
verification exactly there and nowhere else — section 12.1 requires it in connection with claiming
prizes from Prize Drawings, promotions with monetary prizes, and high-value transactions. The
platform asks who you are at the moment it might pay you, which is the same rule the regulated
venues follow, applied to the only payment that exists here.

[Hypermind](https://predictionmarkets.tools/tools/hypermind) splits a fixed euro or dollar reward among forecasters who finish a
contest positive, paid as gift certificates; [Prediki](https://predictionmarkets.tools/tools/prediki) apportions a sponsor's
prefunded Incentive at settlement; [Metaculus](https://predictionmarkets.tools/tools/metaculus) divides a fixed tournament pool by
Peer score. A payment from a named payer to a named person is a different object from a balance in
a virtual currency, and it is the only object in this group that any document could describe.

## What it costs

Not money, mostly. The cost here is reconstruction, and it is paid in three currencies: cadence,
completeness and a subscription.

**Cadence.** Kalshi's profit-and-loss figures update on the first morning of each month, and the
help centre warns that a mid-month check may not reflect the latest data. Robinhood's annual
statement arrives after the end of the calendar year, typically in late January or early February.
Neither is a live number, and a reconciliation attempted between the two dates is a
reconciliation against a stale one.

**Completeness, and the floors underneath it.** Polymarket US's two streaming ledger exports — the
position ledger and the cash balance ledger — carry a documented historical floor of **1 May 2026**,
and the documentation states that pre-floor data is not retrievable. They are also rate-limited to
roughly **five downloads per minute per firm**. Robinhood publishes no export for event contracts
at all: the card records no data export, and the app's three views plus one PDF are the whole
surface. Crypto.com Prediction's card records no export either.

**Disagreement between a venue's own surfaces, in units.** Robinhood's in-app realized
profit-and-loss view excludes fees, and its own fee stack is a commission plus an exchange fee on
both the opening and the closing trade — $0.01 per contract per side in the KalshiEX case, on each
of two trades. A view that omits that is not off by a rounding error, and
[What a trade actually costs](https://predictionmarkets.tools/guides/what-a-trade-actually-costs) is the arithmetic in full.

**A subscription, on the on-chain side.** The indexing that turns an address into rows is the
product, and the row export is usually the paid feature.
[PolyWallet](https://predictionmarkets.tools/tools/polywallet) shows CSV export on the free plan and disables it, unlocking it on
the paid tier; [Convexly](https://predictionmarkets.tools/tools/convexly) exports a watched wallet's read as CSV on its paid tiers
only; [Dune](https://predictionmarkets.tools/tools/dune-polymarket-dashboards) is free to view and fork any dashboard, with CSV
data export a paid-plan feature. Reading the chart costs nothing. Getting the rows out costs
something on all three.

**And one cost with no price on it:** the characterisation itself is unsettled. Robinhood's article
says the IRS has not issued specific guidance on the tax implications of trading event contracts
and that Robinhood will respond if guidance is issued. A venue that tells you it is waiting is
telling you the shape of the documents may change.

## What you can do about it

**Ask who clears before you ask what arrives.** On Kalshi it is Kalshi Klear, and the tax clause is
in that agreement rather than the exchange's. On [ForecastEx](https://predictionmarkets.tools/tools/forecastex) it is your FCM,
under Rules 304 and 305, and the exchange will send you nothing because it has no account of yours
to send it about. On [Polymarket US](https://predictionmarkets.tools/tools/polymarket-us) it is the exchange itself. On an
on-chain venue there is no clearer, which is the answer.

**Separate the two objects, every time.** A *form* is filed with a tax authority as well as sent to
you. A *statement* is a record the venue produces for you and files with nobody. Robinhood's
article is the model of saying which is which; most venues are less explicit, and the test is
whether the document names a form number and whether the page says it is reported.

**Ask the four questions before funding an account**, because three of them have published answers
and the fourth tells you how much work you are taking on. Which entity holds the account? Does the
venue publish a page describing what it issues at year end — and if not, is there a clause in the
agreement you are signing? Is there an export, and what is its earliest date? And does the in-app
profit figure include fees?

**Start the export at the start, not in January.** The one hard limit found on this page is a
retrieval floor: Polymarket US's ledger exports do not reach before 1 May 2026, and its
documentation says pre-floor data is not retrievable. A floor is not a rate limit you can wait out.
Anywhere an export exists, pulling it periodically costs a few minutes and removes a dependency on
the venue's retention policy — and that is as true of
[Kalshi](https://predictionmarkets.tools/tools/kalshi), whose API serves fills and historical data through
[Kalshi API](https://predictionmarkets.tools/tools/kalshi-api), as it is of an exchange with a documented floor.

**On-chain, record the address, and record it at the moment you start using it.** The chain keeps
the transactions; nothing keeps the fact that a particular address was yours, which is the one
piece of information no indexer can recover for you. The wallet trackers in this catalogue take an
address and produce positions, history and a daily profit-and-loss —
[PolyWallet](https://predictionmarkets.tools/tools/polywallet), [Convexly](https://predictionmarkets.tools/tools/convexly),
[OrcaLayer](https://predictionmarkets.tools/tools/orcalayer) — and
[Dune](https://predictionmarkets.tools/tools/dune-polymarket-dashboards) will let you write the query yourself against the raw
on-chain record.

**Do not treat a flag on a card as an answer.** `capabilities.tax_reporting` is true on exactly
four cards in this catalogue and it means only that the venue publishes something at year end. The
four somethings are a set of 1099 forms about interest, credits and crypto plus a monthly P&L
statement; an annual statement with an explicit statement that no 1099 is issued; a single form
above a published net-profit figure; and a general 1099 page that never mentions event contracts.
Read the venue's own page, and read what the form is *about*, not just that one exists.

**Take the characterisation question somewhere else.** This page deliberately names no rates, no
thresholds and no obligations, and it is not tax advice. The venues say the same thing about their
own material: Kalshi states it cannot advise members on their taxes, Robinhood states it does not
provide tax advice and that the IRS has not issued specific guidance for this product type, and
Crypto.com prints the same notice at the foot of its 1099 page. Three venues, no lawyers, one
unsettled question — the document is a fact, and what it means for you is a conversation with a
qualified adviser in your own jurisdiction.

## Tools this bears on

- [Kalshi](https://predictionmarkets.tools/tools/kalshi.md) — A CFTC-designated exchange for event contracts, settled in dollars against named sources.
- [Robinhood Prediction Markets](https://predictionmarkets.tools/tools/robinhood-prediction-markets.md) — Event contracts in the Robinhood app, routed to three exchanges — one of them its own JV.
- [Polymarket](https://predictionmarkets.tools/tools/polymarket.md) — Self-custody event contracts on an on-chain order book, resolved by the UMA oracle.
- [Polymarket US](https://predictionmarkets.tools/tools/polymarket-us.md) — Polymarket's CFTC-designated US exchange — dollars, KYC, and no on-chain oracle.
- [PolyWallet](https://predictionmarkets.tools/tools/polywallet.md) — Read-only Polymarket wallet tracker with mark-to-market P&L and a CSV export.

## FAQ

### Does a CFTC-designated exchange automatically send a year-end tax form?

No, and two of them say so in different words. Robinhood's help centre states that event contract trades are not reported to the IRS by Robinhood and that it does not provide a 1099 for event contract trades, while still producing an annual statement. Kalshi's help centre lists four forms it may issue and none of them is described as covering the proceeds of event-contract trades.

### Is a profit-and-loss statement a tax form?

The venues that publish both say it is not. Robinhood's article calls the annual statement the authoritative record of costs, proceeds and net profit and loss for the year and then states plainly that it is not a substitute tax reporting form. Kalshi's profit-and-loss statement is offered on the same page as its 1099 forms and is a separate download from them.

### If my positions are public on-chain, is that a record?

It is a record of transactions, not a document anyone produced for you. An on-chain venue holds no account in your name and issues nothing at year end. Reconstructing cost basis, proceeds and fees from a wallet address is an indexing job, and on the trackers in this catalogue the export that produces rows rather than a screenshot is generally a paid feature.

### Why does this page not tell me what I owe?

Because the answer depends on a jurisdiction, a filing status and a characterisation that none of these venues has settled either. Robinhood's own article says the IRS has not issued specific guidance on the tax implications of trading event contracts. This page is about which documents exist and where they come from. What to do with one is a question for a qualified adviser.

### Which four cards in this catalogue carry the tax reporting flag?

Kalshi, Robinhood prediction markets, PredictIt and Crypto.com Prediction. The flag records that the venue publishes something at year end, not that the something is the same in each case, and the four are not comparable: a set of 1099 forms plus a monthly statement, an annual statement and explicitly no 1099, a single form issued above a published net-profit figure, and a general 1099 page that never mentions event contracts.

## Sources

1. [What Tax Documentation Does Kalshi Provide? (help centre article)](https://help.kalshi.com/en/articles/13823849-what-tax-documentation-does-kalshi-provide) — Kalshi, 2026-06-22
2. [How to Add Your Social Security Number (help centre article, no date in the article)](https://help.kalshi.com/en/articles/16083491-how-to-add-your-social-security-number) — Kalshi, read 2026-09-21
3. [Kalshi Klear LLC Self-Clearing Member Agreement (footer version stamp 5.25.26)](https://kalshi-public-docs.s3.amazonaws.com/regulatory/agreement/klear_member_agreement.pdf) — Kalshi Klear LLC, read 2026-09-21
4. [Event contract taxes, reports, and statements (help centre article, no date in the article)](https://robinhood.com/us/en/support/articles/event-contracts-taxes-statements/) — Robinhood, read 2026-09-21
5. [Individual Participant and Clearing Member Agreement, version 1.4](https://www.polymarketexchange.com/files/legal/latest/participant-agreement) — QCX LLC d/b/a Polymarket US, 2026-08-06
6. [Reporting Data (trader guide)](https://docs.polymarket.us/trader-guide/reporting) — Polymarket US, read 2026-09-21
7. [Documentation index (llms.txt)](https://docs.polymarket.us/llms.txt) — Polymarket US, read 2026-09-21
8. [Terms of Use](https://polymarket.com/tos) — Polymarket, 2026-08-11
9. [ForecastEx LLC Rulebook, version date 17 September 2026, Rules 304 and 305](https://data.forecastex.com/regulatory/ForecastEx_LLC_Rulebook.pdf) — ForecastEx LLC, 2026-09-17
10. [1099 Form for the 2025 Tax Year (help centre article)](https://help.crypto.com/en/articles/5948842-1099-form-for-the-2025-tax-year) — Crypto.com, 2026-02-19
11. [Prediction Trading (help centre article)](https://help.crypto.com/en/articles/11373970-prediction-trading) — Crypto.com, 2026-09-16
12. [FAQ endpoint, How do you calculate a trader's net profit for tax reporting purposes](https://www.predictit.org/api/about/faqs) — PredictIt, read 2026-09-21
13. [Terms of Service, sections 6.5 and 12.1](https://manifold.markets/terms) — Manifold Markets, Inc., 2026-01-31
14. [Terms of Service (no date in the document; the word tax does not appear in it)](https://docs.limitless.exchange/user-guide/terms-of-service) — Limitless, read 2026-09-21
15. [Terms of Use (the word tax does not appear in it)](https://myriad.markets/terms) — Myriad Foundation, 2026-01-13

*Last updated 2026-09-21. A reference page, corrected in place — not a dated post.*