Reference material for the two questions every prediction-market trader hits: what the tax situation actually is, and how Robinhood's event contracts compare with going direct.
Taxes
Do you pay taxes on prediction-market winnings? Yes — prediction-market profits are taxable in the US. What the IRS has and has not said about Kalshi, Polymarket US, and event-contract gains.
Which 1099 forms does Kalshi actually send? Kalshi issues 1099-INT, 1099-MISC, and 1099-DA forms — but no 1099-B for event-contract trades. What each form covers and what you must report yourself.
How to enable event contracts on Robinhood Event contracts live inside the Robinhood app but are off by default. The eligibility checks and the exact path to turn them on.
What Robinhood event contracts actually cost Robinhood event-contract trades carry a per-contract commission plus the exchange fee. The math per trade and how it compares with Kalshi direct.