Legal status, available platforms, and tax information for prediction market trading in New York (NY).
New York has stricter financial regulations that restrict some prediction market platforms. Polymarket and DraftKings Predictions face limitations, though Kalshi and FanDuel Predicts are available under CFTC regulation.
Prediction markets regulated by the CFTC (Commodity Futures Trading Commission) are generally permitted under federal law across all US states. However, individual states may impose additional restrictions that affect platform availability.
| Platform | Available | Notes |
|---|---|---|
| Kalshi | Available | |
| Polymarket | Not available in this state | |
| FanDuel Predicts | Available | |
| DraftKings Predictions | Not available in this state | |
| Robinhood Sports | Available | |
| PredictIt | Available | |
| Interactive Brokers ForecastTrader | Available | |
| CME Group Event Contracts | Available | |
| Manifold Markets | Play-money — no restrictions | |
| Metaculus | Play-money — no restrictions |
Availability may change. Last verified April 2026.
New York taxes capital gains as ordinary income at rates from 4% to 10.9%, plus NYC residents face an additional local tax. Prediction market profits have significant state and local tax exposure.
At the federal level, prediction market profits are generally reported as capital gains on IRS Form 8949 and Schedule D. The IRS treats prediction market contracts similarly to other financial derivatives. Consult a qualified tax professional for personalized advice.
