World Cup bets on prediction markets may get tax edge over gambling
via bloomberg.com
Short excerpt below. Read at the original source.
Americans using prediction markets to bet on the World Cup may face a lighter tax burden than peers wagering through sportsbooks thanks to tax breaks aimed at investments. While the tax rules governing gambling are clear, the rise of prediction market bets – which are structured as investments – injects fresh uncertainty into how wagers are taxed. […]