Tax professors urge IRS to clarify US prediction market taxation
By The Weekly Edge desk · · Updated
Summary
Two US tax professors have called on the IRS to clarify how prediction market gains should be taxed, Gambling Insider reported. They argue that those gains should count as ordinary income and that uncertainty could favour prediction platforms over traditional sportsbooks.
Why it matters
Tax professors warn that uncertain taxation of prediction market gains could favour prediction platforms over traditional sportsbooks.