Hi,
Are winnings from prediction markets such as Polymarket considered gambling, or treated as income or capital gains?
3,660 views
3,660 views1 replies
1 replies
3,660 views
1 replies
Hi @sadboi
This sounds like a cryptocurrency transaction - have a read on how tax applies to Crypto asset prizes and gambling winnings.
For CGT purposes you wouldn't report capital gains or losses from the winnings on the gambling activities.
We recommend you write in for a private ruling using the Private ruling application form. For more information on what is a private ruling, see Private rulings.
All replies
Hi @sadboi
This sounds like a cryptocurrency transaction - have a read on how tax applies to Crypto asset prizes and gambling winnings.
For CGT purposes you wouldn't report capital gains or losses from the winnings on the gambling activities.
We recommend you write in for a private ruling using the Private ruling application form. For more information on what is a private ruling, see Private rulings.
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