Does Kalshi Report to the IRS? Kalshi Tax Forms Explained

Short answer: yes. Kalshi issues Form 1099-INT, 1099-MISC, 1099-B and 1099-DA to members who cross the IRS reporting thresholds, per Kalshi's tax help page, and a Form 1099 is filed with the IRS as well as sent to you, per the IRS. None of the four is described as reporting your event contract profits.

That last point is the one that catches people. Kalshi does report to the IRS, but the forms it lists cover interest, credits and rewards, crypto transfers and digital asset activity. Your trading results on event contracts sit in a Profit and Loss statement that Kalshi itself says is not tax advice. So the honest answer to "does Kalshi report to the IRS?" is: some of your activity, on specific forms, once thresholds are met, and the rest is yours to report from your own records.

This guide is the reporting half of the picture. It explains which Kalshi tax forms exist, what each one contains, where to download them, how the IRS sees them, and what to do when nothing arrives. For how event contract gains are taxed in the first place, read our full Kalshi taxes guide, which sets out each framework and the gambling loss rules.

Does Kalshi Report Your Activity to the IRS?

Kalshi reports to the IRS through information returns. Its help centre says that "users who hit certain reporting thresholds as defined by the Internal Revenue Service (IRS) will receive" four documents, listed on the What Tax Documentation Does Kalshi Provide? page, last updated June 22, 2026.

What does "reporting to the IRS" actually mean?

A Form 1099 is an information return. The IRS instructions say a payer must file the appropriate Form 1099 with the IRS and furnish a statement to the recipient, as set out in the General Instructions for Certain Information Returns. In practice the IRS receives the same figures you see on your copy and can match them against your return.

Which Kalshi activity is not on a form?

Kalshi's list describes the 1099-B as covering "transaction proceeds from broker transactions (crypto transfers)". No entry on the list is described as reporting the profit or loss on event contracts you bought and sold or held to settlement. That activity appears in your Profit and Loss statement instead. The absence of a form does not remove the need to report: the IRS says you must report all gambling winnings, "including winnings that aren't reported on a Form W-2G", in Topic 419, and it says the same of interest without a 1099-INT in Topic 403. Whichever framework applies to your contracts, the starting point is the same: the income is reportable whether or not a form exists.

Does the IRS know I use Kalshi if I get no form?

If no form was issued, no Kalshi information return reached the IRS for that year. That is a statement about matching, not about what you owe. Funding from a bank or a crypto exchange can leave its own records elsewhere, and the reporting duty sits with you either way.

Which Tax Forms Does Kalshi Issue?

The table below sets out each form on Kalshi's list, what Kalshi says it contains, and where that kind of item usually lands on a federal return. The "contains" column quotes Kalshi; the threshold and return columns cite the IRS.

Form 1099-INT: interest from Kalshi

Where Kalshi pays you interest, it lists Form 1099-INT for "interest payments from Kalshi". The IRS says you should receive a 1099-INT if you were paid $10 or more of interest, and that you must report all taxable interest "even if you don't receive a Form 1099-INT", per Topic 403.

Form 1099-MISC: credits and rewards

Promotional credits and rewards appear on Form 1099-MISC. The IRS instructions say that for tax years beginning after 2025 the minimum threshold for reporting certain payments increased to $2,000, and it may be adjusted for inflation beginning in calendar year 2027, per the Instructions for Forms 1099-MISC and 1099-NEC. A reward below the threshold is still income; it simply arrives without a form.

Form 1099-B: crypto transfers

Kalshi describes its 1099-B as covering proceeds from broker transactions, specifically crypto transfers. If you funded your account with crypto, the disposal of that crypto is a separate event from your contract trading. The IRS says digital asset disposals held as capital assets go on Form 8949, per its digital assets page.

Form 1099-DA: digital asset reporting through ZeroHash

Kalshi's list adds Form 1099-DA for "digital asset transaction reporting from ZeroHash". The IRS instructions describe 2026 and beyond as bringing mandatory reporting of gross proceeds for all digital assets and mandatory basis reporting for digital assets that are covered securities, per the Instructions for Form 1099-DA. Our guide to what Form 1099-DA means for your return walks through each box.

Where Do You Download Kalshi Tax Documents?

Kalshi says its tax documentation sits in the Account tab under the Tax Info page. Some forms are delivered by email instead, from Zenwork, which Kalshi names as its tax form provider, per the Kalshi help centre.

How do I find my Kalshi Profit and Loss statement?

Kalshi gives four steps: log in, go to Account and select Tax Info, select the year, and download the Profit and Loss statement. Kalshi says the data updates on the first of each month, so a mid-month download may not show your latest trades.

What if the form came by email?

Kalshi tells members to check their inbox and spam or junk folders for an email from Zenwork containing a secure link to download the forms. Save a PDF of every form as soon as you open it, so your file does not depend on a link that may expire.

What should I download besides the forms?

Download the Profit and Loss statement for each year you traded, and a full trade history if you plan to report contract by contract. Keep your deposit and withdrawal records too. The IRS says to keep records of each purchase, receipt, sale and exchange of digital assets, per its digital assets page.

What Does the Kalshi Profit and Loss Statement Show?

For most traders the P&L statement is the main record of what happened, so it is worth knowing how Kalshi builds it.

How does Kalshi calculate profit and loss?

Kalshi says it uses the First-In-First-Out (FIFO) method to compute profits and losses, that trading activity is segmented by year, and that the P&L figure includes fees and any rebates, per its tax help page. If you adopt a different lot method or a treatment that needs gross figures, you will need the underlying trades, not only the net total.

Is the P&L statement a tax document?

No. Kalshi states that the information in the Profit and Loss statement is not tax advice and that each member is responsible for the accuracy of their returns. It is a tool, not a filed position. Our Kalshi taxes guide explains why a single net figure can understate what a return needs, especially where wins and losses are reported separately.

Why might my P&L not match my account balance?

The P&L covers trading. Your balance also moves with deposits, withdrawals, interest and rewards. Interest and rewards appear on their own forms, and deposits are not income. Reconciling the two is the first job before any figure goes on a return.

How Do You Report Kalshi on Your Tax Return?

Reporting has two layers: the forms Kalshi issues, and the event contract results it does not put on a form.

Step 1: report each form where it belongs

Enter 1099-INT interest as interest income, 1099-MISC rewards as other income on Schedule 1, and 1099-B or 1099-DA disposals on Form 8949. The IRS sends ordinary digital asset income to Schedule 1 and capital asset disposals to Form 8949, per its digital assets page. Our Form 8949 and Schedule D guide covers the boxes.

Step 2: report your event contract results

This is the layer no form covers. How it is reported depends on the treatment you and your preparer adopt, which our Kalshi taxes guide sets out framework by framework. Whatever the treatment, the figures come from your own trade records and the P&L, so they need to be complete and reconciled.

Step 3: answer the digital asset question

If you funded or withdrew in crypto, the Form 1040 digital asset question applies. The IRS says you must report digital asset transactions whether or not they result in a taxable gain or loss, per its digital assets page.

What If No Kalshi Tax Form Arrives?

Kalshi says that if no 1099 forms appear in your account, it is likely because you did not meet the IRS thresholds required for issuance, per its help centre. That is common for small balances and modest rewards.

Do I still owe tax without a form?

Yes, if you had taxable income. The IRS requires interest to be reported without a 1099-INT (Topic 403) and gambling winnings to be reported without a W-2G (Topic 419). A missing form changes what the IRS can match, not what the law requires you to report.

What if I closed my Kalshi account?

Download every year's P&L and any forms before closing, if you still can. If the account is already closed, contact Kalshi support for statements you cannot reach, and rebuild the year from bank and wallet records where needed.

Kalshi vs Polymarket: How the Reporting Differs

Many traders use both platforms, and the paperwork is not the same. Kalshi issues the forms above to members who meet the thresholds. Polymarket's records and forms are different, so do not assume a Kalshi-style 1099 set exists for that activity. Our Polymarket taxes guide covers that side, and our prediction market taxes overview compares the platforms.

Can I combine Kalshi and Polymarket on one schedule?

Each platform's results need their own records, even where they end up on the same form. Keep the Kalshi P&L, the Kalshi forms and your Polymarket wallet history as separate source files, so each figure on the return traces back to one source.

Who Can Reconcile Kalshi Activity for Your Return?

If you have a handful of trades, the forms and the P&L may be all you need. If you traded thousands of contracts, funded with crypto, or used more than one platform, the work is reconciliation: matching the forms, the P&L, deposits and withdrawals so that every figure ties out. CountDeFi is a firm of US crypto tax accountants, led by Chris Herbst, Chartered Business Accountant in Practice (CBAP) with the Chartered Institute for Business Accountants and General Tax Practitioner (GTP) with the South African Institute of Taxation. We rebuild prediction market and crypto activity and hand the reports to your CPA or tax preparer. See our crypto tax accounting service, or read what a prediction market tax accountant does.

Event contracts placed as wagers can also overlap with the gambling rules. Our guide to crypto gambling taxes covers how gambling winnings are reported.