Most of these devices have a little symbol telling you to not put them in the trash. That is likely for safety reasons.
These tokens contain a small lithium battery and some electronic components. But it is mostly plastic: very, very tough plastic.
We tried to take one apart. Even with a lot of damage, it was still working.
Our conclusion is: these will NOT be recycled. It likely costs more to recycle these than the value of the material that would be recovered.
However for safety reasons you are asked to not put it in the trash given the very low but not zero chance that the lithium battery could heat up.