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Unclear IRS guidance leaves prediction market taxes in limbo

Experts say the absence of federal guidance makes it difficult to determine how prediction market winnings should be reported and taxed.

Reported · Written up by our desk · Regulation

CNBC Markets reports that questions around how prediction market payouts are taxed remain unresolved because the IRS has not issued clear federal guidance.

Experts cited by CNBC say that, without direction, it is not yet clear how winners should report earnings or what tax treatment would apply to winnings from these markets.

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