Yes, income from your winning Super Bowl wager on the Eagles is taxable. So were winning bets on the election in November. - MarketWatch
1. Prediction markets are taxable like traditional gambling. 2. IBKR is reporting winnings through Form 1099 for tax purposes. 3. IRS classifies prediction market earnings as ordinary income. 4. Investors must report winnings, regardless of tax forms received. 5. Tax implications may affect investor behavior on IBKR's platform.