As Gambling Apps Grow, Bettors are Slated to Owe More in Taxes This Year

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As Gambling Apps Grow, Bettors are Slated to Owe More in Taxes This Year

You can’t watch a sporting event, listen to a podcast, or open social media without being served some sort of advertising for betting, whether it’s the now widely proliferated sports betting apps like FanDuel and DraftKings or the rapidly growing “prediction markets” like Polymarket and Kalshi. But if you’re just starting to get into gambling, you’re going to get hit for more than just your losses. As of January 1, 2026, the federal tax code will change to limit the…



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As Gambling Apps Grow, Bettors are Slated to Owe More in Taxes This Year



As Gambling Apps Grow, Bettors are Slated to Owe More in Taxes This Year

You can’t watch a sporting event, listen to a podcast, or open social media without being served some sort of advertising for betting, whether it’s the now widely proliferated sports betting apps like FanDuel and DraftKings or the rapidly growing “prediction markets” like Polymarket and Kalshi. But if you’re just starting to get into gambling, you’re going to get hit for more than just your losses. As of January 1, 2026, the federal tax code will change to limit the…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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