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Home Market Research Markets

Bet Big, Lose Bigger? Why Trump’s Tax Law Has Gamblers Upset

by TheAdviserMagazine
5 months ago
in Markets
Reading Time: 1 min read
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Bet Big, Lose Bigger? Why Trump’s Tax Law Has Gamblers Upset
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While most Americans were focused on the broader impacts of President Trump’s “big, beautiful bill,” a provision tucked inside could dramatically change how gambling winnings are taxed starting in 2026. The new rules cap gambling loss deductions at 90% of winnings, a change that the Joint Committee on Taxation estimates could raise $1 billion in new revenue. Previously, you could deduct all…



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