I’m not plugging IBKR because their platform is the worst ever, but I think it will prove to be the most accurate prediction product because it’s legal for US residents and for the tax benefit. I think the “sharp” money will come from within the US and no one can wisely use Polymarket or Kalshi unless they want to break the law and hide income from IRS.
It would be stupid to bet on a coin flip and pay taxes every time you win, but not be able to write off the losses when you lose.
Kalshi states that they don’t report to IRS but that is only helpful if you want break the law with IRS. Someone betting substantial money from within the US won’t do this.
I’m not plugging IBKR because their platform is the worst ever, but I think it will prove to be the most accurate prediction product because it’s legal for US residents and for the tax benefit. I think the “sharp” money will come from within the US and no one can wisely use Polymarket or Kalshi unless they want to break the law and hide income from IRS.
It would be stupid to bet on a coin flip and pay taxes every time you win, but not be able to write off the losses when you lose.
Kalshi states that they don’t report to IRS but that is only helpful if you want break the law with IRS. Someone betting substantial money from within the US won’t do this.
The play money markets favor Harris, the Wild West platforms favor Trump, regulated markets in the middle. Wat means?