Do I get a 1099-K from DraftKings, FanDuel, Kalshi or PrizePicks?

By the W2gMatch team · Sources checked 09-06-2026 · General information, not tax advice.

Usually not. Sportsbooks and casinos report qualifying wins on Form W-2G, not a 1099-K. A 1099-K comes from a payment platform such as PayPal, and only when payments exceed $20,000 across more than 200 transactions. Daily fantasy and pick'em products report net annual winnings on Form 1099-MISC once they reach $2,000 for 2026.

Three different forms, three different things measured

Form W-2G (the information return a payer files for a single qualifying gambling payout) is what a sportsbook or casino issues for one wager that meets the reporting threshold, $2,000 for 2026, and for sports bets is at least 300 times the stake. [1] It measures one payout.

Form 1099-MISC (the information return for miscellaneous income such as prizes, used by fantasy and pick'em products) is what daily fantasy, Pick6 and similar products issue for the year's net winnings when they reach the reporting threshold. That threshold rose from $600 to $2,000 for payments made in 2026 under section 70433 of the 2025 tax act. [2] [3] It measures an annual net figure for one product.

Form 1099-K (the information return a payment card processor or third-party payment platform files for payments it settled) is filed by a payment platform, not a sportsbook. The IRS threshold is payments for goods or services that exceed $20,000 across more than 200 transactions in the year. [4] It measures gross payments moving through the platform, regardless of what they were for.

So who sends what

DraftKings and FanDuel describe issuing W-2Gs for sportsbook and casino wins and 1099-MISCs for daily fantasy and pick'em products. [5] [6] [3] Neither reports an annual profit or loss for sportsbook or casino play; FanDuel says so in as many words. [5] PrizePicks describes issuing Form 1099-MISC for most pick types on net winnings for the calendar year. [7] Kalshi lists Form 1099-MISC for credits and rewards, 1099-INT for interest, and 1099-B or 1099-DA for certain crypto transactions, and no form for event contract gains. [8]

A 1099-K can still turn up. If you moved money out through PayPal or another third-party platform and your total payments through that platform crossed the 1099-K threshold, the platform may file one, and it will show gross payments, not winnings. It is not a second set of income; it is the same money, measured differently, and needs to be explained rather than added.

Why the forms never add up to your result

A W-2G counts single big payouts and ignores everything else. A 1099-MISC nets a fantasy product for the year. A 1099-K counts transfers. A win/loss statement estimates tracked play. None of them is your taxable figure, and none of them is meant to reconcile to another. The return is built from your own records, with the forms as checkpoints the IRS will match against. How a preparer reconciles them is on the reconciliation page.

No form at all

Most winnings produce no form. They are taxable all the same; the IRS says gambling winnings are fully taxable and must be reported whether or not a form is issued. [9] Below-threshold fantasy winnings are the same: PrizePicks and Kalshi both tell customers that a missing form does not mean a missing obligation. [7] [8]

Related questions

My 1099-K from PayPal shows my sportsbook withdrawals. Is that income?

It reports payments the platform settled, not winnings. The winnings are already accounted for from your betting records. Keep the 1099-K, and make sure the preparer can show why its total does not match the return.

Will DraftKings or FanDuel send me one form for the whole year?

No. W-2Gs are issued per qualifying wager, and 1099-MISCs per fantasy product. Neither company reports your annual net result for sportsbook or casino play.

I got no form. Do I still report?

Yes. Gambling winnings are taxable whether or not any form is issued.

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Sources

  1. IRS Instructions for Forms W-2G and 5754, Rev. January 2026
  2. RSM US, Big Beautiful Bill brings big tax reporting changes for casino industry, 2026 (secondary source)
  3. Monaco CPA, NJ sportsbook tax forms: DraftKings, FanDuel and BetMGM, updated September 3, 2026 (secondary source)
  4. IRS, Understanding your Form 1099-K, page updated June 28, 2026
  5. FanDuel Support, Taxes: frequently asked questions, read September 6, 2026
  6. DraftKings Help, Key tax dates for DraftKings (US), read September 6, 2026
  7. PrizePicks Help Center, Taxes, read September 6, 2026
  8. Kalshi Help Center, What tax documentation does Kalshi provide?, June 22, 2026
  9. IRS Tax Topic 419, Gambling income and losses, page last reviewed June 11, 2026

Related

This page is general information about how U.S. federal and state tax rules apply to gambling, written to be checked against the sources it cites. It is not tax advice for your situation. A licensed CPA or enrolled agent should review your return before it is filed.