The fees, taxes, and rules that move across Kalshi, Polymarket, Robinhood, and every prediction market. Dated, sourced, and explained with the math, so you always know what a trade actually costs.
Late May 2026 brought a wave of prediction-market lawsuits and split appeals-court rulings. Here is the state of play and what it means for your account.
No 1099 does not mean no tax. Here is what Kalshi, Polymarket, and Robinhood actually report for 2026, and why the reporting gap is yours to close.
Kalshi's fee schedule, effective February 5, 2026, keeps the per-contract formula but adds volume-based taker tiers. We run the numbers on what you actually pay.