Bettors are worried Trump's 'big, beautiful bill' could cause professional gambling in the U.S. to fold

A relatively underappreciated constituency is raising the alarm about President Donald Trump’s “big, beautiful bill” — gamblers

A relatively underappreciated constituency is raising the alarm about President Donald Trump’s “big, beautiful bill” — gamblers.

Tucked into the nearly 900-page legislation is a change to how gambling losses are taxed that some professional and amateur bettors say could crush the industry.

The provision, only a few paragraphs, would limit what gamblers can deduct from their yearly taxes to 90% of their losses starting in 2026. Currently, bettors can deduct the entirety of their losses, up until their winnings.

What a number of gambling aficionados pointed out on social media was that by limiting the tax deduction to 90% of losses, gamblers could actually owe taxes in years when they netted losses on their bets.

“This new amendment to the One Big Beautiful Bill Act would end professional gambling in the US and hurt casual gamblers, too,” Phil Galfond, a professional poker player, posted to X, including a video summarizing his argument. “You could pay more in tax than you won. Contact your representative quickly.”