United States: The impact of Donald Trump’s One Big Beautiful Bill on the incomes of professional gamblers
A discreet but far-reaching change has crept into the One Big Beautiful Bill, Donald Trump’s ambitious tax reform plan: from 2026, punters will no longer be able to deduct all their losses, but only 90%. In practical terms, many gamblers will find themselves taxed on ‘phantom income’. This measure, designed to replenish the State’s coffers, is provoking anger, concern and counter-attacks.