This article applies to Kalshi-powered accounts. If your account is powered by Crypto.com | CDNA, your Predictions tax reporting is handled by CDNA, not Underdog.
Why did I get a 1099-B?
Because Underdog Predict now operates as a regulated Futures Commission Merchant (FCM), your Predictions activity is subject to federal financial reporting requirements. As a result, you'll receive a 1099-B from us reflecting your trading activity for the year.
Who issues the 1099-B?
The 1099-B is issued by UDM, LLC (d/b/a Underdog Predict). You may see this name on the form.
Where do I find my tax form?
You can access your 1099-B in the app under Account → Tax Documents. You'll also receive an email notification when it's available. If you prefer a physical copy by mail, you can opt in to paper delivery in the same section — a $2.50 processing fee applies per mailed form.
What does the 1099-B cover?
The 1099-B reports proceeds from your Prediction Picks trading activity during the tax year. It reflects the transactions processed through your FCM account with Underdog Predict.
Important disclaimer
Underdog Predict cannot provide tax advice. The tax treatment of event contract trading is a complex and evolving area of law. We strongly recommend consulting a qualified tax professional for guidance on how to report your Predictions activity on your tax return.
Frequently asked questions
When will I receive my 1099-B?
1099-B forms are delivered by January 31 for the prior tax year, as required by federal law.
What if I have activity under both exchanges?
Activity on a CDNA-powered account is reported by Crypto.com | CDNA, not Underdog. Activity on a Kalshi-powered account is reported by Underdog Predict. If you have traded under both, you may receive separate tax documentation for each.