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EventBasis / tax guides

Will Kalshi, Polymarket, or Robinhood send you a 1099 for 2026?

Mostly no — and 'no 1099' never means 'no taxes.' Exactly which forms each venue issues for TY2026, sourced from venue documentation. Updated 2026-06-11 · TY2026 parameters.

The short answer

For event-contract P&L: mostly no. Here is exactly what each venue issues for TY2026, from their own documentation:

VenueWhat you get
KalshiKalshi issues NO comprehensive 1099-B for event-contract P&L (only 1099-INT ≥$10, 1099-MISC ≥$600 for credits, 1099-B for crypto transfers, 1099-DA via ZeroHash). Transaction exports are denominated in CENTS.
PolymarketPolymarket issues no US tax forms; USDC settlement adds a property-disposition layer (digital-asset question on Form 1040 must be answered Yes).
Robinhood (event contracts)Robinhood's 'Annual Statement' for event contracts disclaims being a tax form.

"No 1099" ≠ "no taxes"

All income is reportable whether or not a form arrives — the 1099 is an information return, not a permission slip. What the missing form actually changes: no withholding (estimate quarterly; Q3 due September 15, 2026), no cost-basis computation done for you (you build lots from exports), and no characterization decision made for you (four open positions, materially different bills — see the table on the Kalshi taxes page).

The record you should keep

  • Venue transaction exports, downloaded at least quarterly (Kalshi's are denominated in cents — handle the conversion once, correctly)
  • Lot-level P&L: market, side, open/close dates, proceeds, basis, fees per order
  • Fee reconciliation — Kalshi rounds each order's fee UP to the next cent; tools that apply the raw formula understate
  • For Polymarket: USDC acquisition/disposition dates (the digital-asset question is mandatory)

EventBasis Import does all four from a raw CSV and drafts Form 6781/8949 + a CPA cover letter.

Run your own numbers — free

EventBasis computes your federal + state liability under all four characterizations side by side, flags the OBBBA phantom-income trap, and turns venue CSV exports into lot-level Form 6781/8949 drafts. Free during early access.

Open the calculator Import your trade CSV

Get the TY2026 filing checklist + updates when guidance moves (it will):

Primary sources

Verification-log discipline: every parameter on this page traces to one of these documents, checked 2026-06-11.

Educational information under stated assumptions, current as of 2026-06-11 — not tax advice. Characterization of event-contract P&L is unsettled (no IRS guidance, no PLR, no cases as of June 2026); engage a qualified professional before filing. Sources and parameters: methodology · primary documents linked below.
kalshi taxespolymarket taxesworld cup winnings taxes