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Dina Titus introduces FAIR BET Act to restore full gambling-loss deduction

Regulation

US Representative Dina Titus introduced the FAIR BET Act, which would restore the 100% deduction for gambling losses, according to the report. The measure would reverse a law limiting deductions to 90% of losses from 2026; Titus said the change could affect bettors’ tax reporting and use of unregulated platforms.

The proposal could change federal tax treatment for gambling losses and influence bettors’ reporting obligations.

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Regulation

Dina Titus seeks House vote to restore full gambling-loss deductions

Nevada Representative Dina Titus filed a discharge petition to bring her FAIR BET Act to a House vote, seeking to reverse a tax rule that limits gambling-loss deductions to 90% of losses. The petition had gained no additional signatures by 20 February and requires 218 signatures to advance; the American Gaming Association has warned the cap could steer gamblers towards unregulated offshore offerings.

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