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Sports betting & prediction market policy wonk

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American Gaming Association rep says sports on prediction markets is costing states “a fortune in lost tax revenue” but the data does not show that. Data shows steady growth for state-based casinos & sports betting, as a whole.

American Gaming Association rep says sports on prediction markets is costing states “a fortune in lost tax revenue” but the data does not show that. Data shows steady growth for state-based casinos & sports betting, as a whole.

158,210 просмотров

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Breaking: the big tax bill with a provision to repeal the 90% cap on gambling losses was just overwhelmingly voted through, with bipartisan support, to the House Rules Committee. It’s a technical step before it goes to the House floor for a full vote.

Breaking: the big tax bill with a provision to repeal the 90% cap on gambling losses was just overwhelmingly voted through, with bipartisan support, to the House Rules Committee. It’s a technical step before it goes to the House floor for a full vote.

1,500,262 просмотров • 1 месяц назад

This is wild. DraftKings must pay a Massachusetts bettor $923k after the Gaming Commission unanimously denied a request to void a series of connected bets. The result of a single mistake made by a trader.

This is wild. DraftKings must pay a Massachusetts bettor $923k after the Gaming Commission unanimously denied a request to void a series of connected bets. The result of a single mistake made by a trader.

5,742,915 просмотров • 10 месяцев назад

The 90% cap on gambling losses would be repealed retroactive to 1/1/26 as part of the Ways & Means tax bill. Joint Committee on Taxation estimates a negative impact on revenue of $2 billion from ‘27-36 from this repeal. The ‘27-34 estimate is $1.5 billion, up 33% from its $1.1 billion estimate during same period. Wonder if this means estimated tax payments from gamblers were higher than anticipated?

The 90% cap on gambling losses would be repealed retroactive to 1/1/26 as part of the Ways & Means tax bill. Joint Committee on Taxation estimates a negative impact on revenue of $2 billion from ‘27-36 from this repeal. The ‘27-34 estimate is $1.5 billion, up 33% from its $1.1 billion estimate during same period. Wonder if this means estimated tax payments from gamblers were higher than anticipated?

401,619 просмотров • 1 месяц назад

Robinhood announces it is adding player props & parlays

Robinhood announces it is adding player props & parlays

2,427,299 просмотров • 10 месяцев назад

Impactful opening statement from Rep. Steven Horsford

Impactful opening statement from Rep. Steven Horsford

89,107 просмотров • 1 месяц назад

Gambling tax change is one of the top tax stories to start 2026. Getting decent news coverage…like this story in Charlotte, NC.

Gambling tax change is one of the top tax stories to start 2026. Getting decent news coverage…like this story in Charlotte, NC.

182,165 просмотров • 10 месяцев назад

Being a Kalshi lawyer is hard, part 2

Being a Kalshi lawyer is hard, part 2

100,563 просмотров • 6 месяцев назад

IRS guy actually giggles at the end of this clip while saying that, starting this year, some gamblers will now owe tax on money they didn’t earn

IRS guy actually giggles at the end of this clip while saying that, starting this year, some gamblers will now owe tax on money they didn’t earn

103,573 просмотров • 7 месяцев назад

Massachusetts unanimously approved a regulation that requires sportsbooks to notify bettors within 48 hours of limiting their account. It will come with almost stunning granular guidance backing the reg. Goes into effect on June 1, pending waiver requests from sportsbooks. 🧵

Massachusetts unanimously approved a regulation that requires sportsbooks to notify bettors within 48 hours of limiting their account. It will come with almost stunning granular guidance backing the reg. Goes into effect on June 1, pending waiver requests from sportsbooks. 🧵

99,774 просмотров • 8 месяцев назад

Colorado Senate voted to remove language from a now-neutered RG bill that would have disallowed sportsbooks from limiting bettors “because they win.” Bill co-sponsor Byron H Pelton said they had weekend talks w/ the industry about bettors “gaming the system” much like “card counters” in casinos. 1/

Colorado Senate voted to remove language from a now-neutered RG bill that would have disallowed sportsbooks from limiting bettors “because they win.” Bill co-sponsor Byron H Pelton said they had weekend talks w/ the industry about bettors “gaming the system” much like “card counters” in casinos. 1/

56,668 просмотров • 6 месяцев назад

2/2. What's wild is that Mass Gaming Commission today decided that if a Russian or Belarusian athlete promotes their country as part of a match, the wagers for that match must be voided. So you could bet on a UFC Main Event fight & have your bet voided post-fight if they hold up a flag.

2/2. What's wild is that Mass Gaming Commission today decided that if a Russian or Belarusian athlete promotes their country as part of a match, the wagers for that match must be voided. So you could bet on a UFC Main Event fight & have your bet voided post-fight if they hold up a flag.

124,991 просмотров • 1 год назад

Incredible that the co-sponsor of the bill amendment to reverse the gambling tax deduction cap has been called as a witness to testify & is now missing.

Incredible that the co-sponsor of the bill amendment to reverse the gambling tax deduction cap has been called as a witness to testify & is now missing.

53,543 просмотров • 9 месяцев назад

Full testimony from Dina Titus on restoring 100% gambling tax loss deductibility

Full testimony from Dina Titus on restoring 100% gambling tax loss deductibility

46,350 просмотров • 9 месяцев назад

Andrew Ross Sorkin: the important issue of derivatives fraud on DubClub

Andrew Ross Sorkin: the important issue of derivatives fraud on DubClub

25,859 просмотров • 5 месяцев назад

Kalshi co-founder says <7% of volume comes from institutional market makers. Most of it is from individuals & very small PM-centric funds.

Kalshi co-founder says <7% of volume comes from institutional market makers. Most of it is from individuals & very small PM-centric funds.

21,922 просмотров • 5 месяцев назад

CFTC Chairman says the upcoming Proposed Rule on Prediction Markets will be “narrow” & “address one aspect” of PMs. Helps explain why the rule is moving so quickly.

CFTC Chairman says the upcoming Proposed Rule on Prediction Markets will be “narrow” & “address one aspect” of PMs. Helps explain why the rule is moving so quickly.

13,719 просмотров • 4 месяцев назад

.Rep. Steven Horsford talks about the unfairness of the 90% gambling losses deduction cap at today’s Ways & Means hearing

.Rep. Steven Horsford talks about the unfairness of the 90% gambling losses deduction cap at today’s Ways & Means hearing

10,964 просмотров • 4 месяцев назад

Jim Cramer calls the gambling tax provision in the OBBB "brutal" as part of a 6-minute segment on CNBC's Mad Money. Mainstream media attention on the issue has increased this week.

Jim Cramer calls the gambling tax provision in the OBBB "brutal" as part of a 6-minute segment on CNBC's Mad Money. Mainstream media attention on the issue has increased this week.

20,680 просмотров • 1 год назад

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