Finland Prediction Market Taxes

How Finland Taxes Prediction Markets

Prediction market gains in Finland are subject to income tax. Use our calculator to determine your exact tax liability.

How to File

1. Log in to OmaVero (vero.fi) with your bank credentials or mobile ID.
2. Go to your pre-completed tax return.
3. Add your prediction market winnings under "Other earned income" (Muut ansiotulot).
4. Convert USD amounts to EUR using the ECB reference rate on the date of each settlement.
5. Submit your return by the deadline (usually mid-May).

How are prediction markets taxed in Finland?

Winnings from non-EU-licensed platforms (like Kalshi and Polymarket) are taxed as earned income (ansiotulo) under the Income Tax Act §85. State tax is progressive (0%–44%) and municipal tax (~7.5%) applies on top. The KHO confirmed in 2025 that losses are non-deductible.

Can I deduct my losses?

No. Losses from non-EU-licensed gambling/prediction platforms cannot be deducted against winnings in Finland, even when losses exceed winnings.

Why do I need to enter my other income?

Finnish state income tax uses progressive brackets. Your prediction market winnings stack on top of your other earned income (salary, freelance, etc.), so the bracket they fall into depends on your total income. Entering your other income gives you an accurate tax estimate.

What exchange rate should I use?

Use the ECB (European Central Bank) reference rate on the date of each trade settlement for USD to EUR conversion.

When is the filing deadline?

The pre-completed tax return deadline is usually in mid-May. Check OmaVero for your specific date.