Will be doing these weekly as we enter the fall. Also adding macro predictions on the economic and housing markets you can utilize accordingly. Still more profits for this month so far, fulfilling a very profitable 2023 for political betting.
A full breakdown of every team in the SEC, including talent analysis, coordinator concern, and schedule forecasts, with win total expectations. Enjoy!
Treatment of Kalshi Transactions for Taxes
I’ve seen some questions on how Kalshi contracts are treated for tax purposes. Below is a summary based on my research of how Kalshi is regulated and applicable IRS guidance for how Kalshi contracts should be taxed. Wanted to share this with the group if helpful to anyone. This is not tax advice. The information provided is for general informational purposes only and should not be considered professional tax advice. Consult a qualified tax professional for advice specific to your situation.
Overview
Kalshi is the first CFTC regulated exchange dedicated to trading on the outcome of future events. From inflation, to fed rates, to unemployment, to will the government shut down, Kalshi allows people to trade on a broad range of topics. They’ve developed a new asset class, event contracts, where you can buy Yes or No positions with respect to whether an event will happen or not. Kalshi’s vision is to allow people to capitalize on their opinions, trade in the domain of every day, and hedge risks that relate to them.
Kalshi’s Event Contracts give...
