Does Polymarket send a 1099?
Polymarket doesn’t send 1099s or any US tax forms. What that means for your taxes, how exchange 1099-DA forms fit in, and how to report your Polymarket trades.
Updated October 7, 2026 · By the PolyTax team
The short version
- No. Polymarket doesn’t send a 1099-B, 1099-DA, 1099-MISC or W-2G.
- Your trading profits and rewards are still taxable, and you report them yourself.
- Your trades are on a public blockchain, so the full history can be rebuilt from your wallet address.
Why Polymarket doesn’t send tax forms
The main Polymarket site is run by a company based outside the United States. It doesn’t act as a US broker or payer, so it has no obligation to send US tax forms. That doesn’t change what you owe: US citizens and residents are taxed on their income from anywhere, with or without a form.
Will the IRS know?
Polymarket trades settle on the Polygon blockchain, which anyone can read. And from 2025, US crypto exchanges report digital-asset sales to the IRS on Form 1099-DA. Treat your Polymarket activity as visible and report it.
What to do instead
- Rebuild your history. Every trade, redemption and reward can be read from the address on your Polymarket profile.
- Report trades on Form 8949. For 2025 and later, short-term trades go in box I and long-term trades in box L (digital assets with no 1099-DA). The totals carry to Schedule D.
- Report rewards as income on Schedule 1, line 8v.
- Answer yes to the digital asset question on Form 1040.
The full walkthrough is in Polymarket taxes.
What about 1099-DA forms from exchanges?
If you bought or sold USDC on an exchange like Coinbase, that exchange may send you a 1099-DA. It covers your transactions on the exchange, not your Polymarket trades. Report it as shown; because USDC tracks $1, the gain or loss is usually close to zero.
Polymarket US
The Polymarket US app is separate from the on-chain site and runs on a CFTC-regulated exchange. Check its documents section for any tax forms; if it sends you one, use its figures.
Common questions
Does Polymarket report winnings to the IRS?
Polymarket doesn’t send 1099s or other US tax forms. You still have to report your gains, and your trades are recorded on a public blockchain.
Do I need a 1099 to report Polymarket income?
No. You report income whether or not you receive a form, using your own records. Your wallet’s on-chain history is enough to rebuild every trade.
Does Polymarket send a W-2G?
No. Casinos and other gambling operators issue W-2Gs for large wins; Polymarket doesn’t send one.
What if I traded on Polymarket and never reported it?
You can amend past returns on Form 1040-X. Correcting them before the IRS contacts you generally keeps penalties lower; a tax professional can help.
Sources
This guide is general information, not tax advice. The IRS hasn't issued guidance on prediction markets, so check your situation with a tax professional before you file.