IRS proposed rules would implement OBBBA’s 90% gambling loss cap, taxing some gamblers on income they never actually kept.

Gambling taxes are common because the United States gaming industry is booming. From new casinos to lotteries and online sports betting, there are plenty of opportunities if you enjoy gambling. And ...

The ink is barely dry on President Donald Trump’s sweeping new tax law. But a debate is already underway over a gambling provision that could reshape how millions of U.S. gamblers are taxed on their ...

Public Law No. 119-21, 139 Stat. 72 (2025) — known as the One Big Beautiful Bill Act — introduces a change to the treatment of gambling losses under the Internal Revenue Code. Gamblers could deduct up ...

A new tax cap on gambling loss deductions could raise costs for high rollers and shift bettors toward prediction markets and unregulated alternatives. The "Big Beautiful Bill" limits gambling loss ...

The fight to get the gambling losses tax repealed just hit an obstacle. Senator James Lankford (R-OK), a prominent member of the Senate Finance Committee, is openly opposing efforts to reverse a ...

The lead plaintiff says the futures markets provided by the New York-based company are nothing more than unregulated and ...

Rolling the dice just got a whole lot riskier under President Donald Trump’s One Big Beautiful Bill. A few short lines in the 940-page bill could have an oversized impact on the gambling and sports ...

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The Canadian hip-hop superstar’s recent financial transparency exposes the harsh realities behind celebrity betting culture The glittering facade of celebrity gambling culture received a sobering ...