Kalshi Tax Calculator

Estimate how much federal and state tax you owe on your Kalshi prediction market winnings.

Prediction markets and the 90% loss limit. Starting with tax year 2026, federal law (the One Big Beautiful Bill Act) limits deductible gambling losses to 90% of the amount lost. The IRS has not issued guidance on whether Kalshi and other prediction market losses are subject to that limit, so this calculator deducts 100% of your losses by default. Turn on the toggle below to see what you'd owe if the 90% limit applies.

Not tax advice. This calculator provides a simplified estimate for informational purposes only. It does not account for your total income, filing status, or state-specific rules, and does not constitute tax, legal, or financial advice. Consult a qualified tax professional about your specific situation.

Total Kalshi Winnings ($)$

The combined profit from all of your winning Kalshi contracts for the year.

Total Kalshi Losses ($)$

The combined amount lost on all of your losing Kalshi contracts for the year.

Itemize Deductions?

Losses can only offset winnings (never more than your winnings), and only if you itemize deductions.

Federal Marginal Tax Rate

Your marginal tax bracket based on total taxable income, not just your Kalshi winnings.

State Tax Rate (%, Optional)%

Enter your state's income tax rate if applicable. Leave at 0 to estimate federal tax only.

Apply 90% gambling loss limit

Shows your estimated tax if the IRS treats prediction market losses like gambling losses, where only 90% of losses are deductible.

Results

Deductible Losses

$1,000.00

Net Taxable Income

$4,000.00

Estimated Federal Tax

$960.00

Estimated State Tax

$0.00

Total Estimated Tax

$960.00

Estimated After-Tax Amount

$4,040.00

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