Senate Republicans blocked an attempt to change a tax law affecting professional gamblers that could harm their industry significantly. Starting in 2026, individuals will only be able to deduct 90% of their gambling losses up to their winnings under the new tax law.
Phil Galfond, a professional poker player, warned that the amendment would end professional gambling in the U.S. and impact casual gamblers.
Oregon Democratic Sen. Ron Wyden stated that many Republican senators were unaware of this policy regarding gambling taxes.
