Tribal gaming leaders voiced concern about a federal law signed by President Trump on 4 July, including a provision allowing gamblers to deduct only up to 90% of losses. Indian Gaming Association chairman Victor Rocha said the industry was concerned about the provision’s effects, including possible movement of players offshore.
The deduction limit may affect tribal casino operators’ player activity and tax-related exposure.
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Nevada Senator Catherine Cortez Masto planned to introduce the FULL HOUSE Act to reverse a tax provision limiting gamblers’ deductible losses to 90% of winnings, according to the report. The proposal follows the FAIR Bet Act in the House; the article says both measures would restore full loss deductions, but the outcome remained uncertain.
Oklahoma tribal gaming leaders have raised concerns that prediction markets threaten tribal sovereignty. They warned that these markets could bypass federal gambling laws while sports betting remains illegal in Oklahoma.
Indian Gaming Association executive director Jason Giles and conference chairman Victor Rocha warned that prediction markets could reduce tribal gaming revenue and said tribes may need to lobby Congress or pursue legal action, reportedly. Rocha said California tribes and state officials would oppose FanDuel, DraftKings and other operators entering the state; a federal judge had recently denied three tribes’ request to stop Kalshi offering sports event contracts there.
Reportedly, Nevada lawmakers have renewed efforts to restore the full federal deduction for gambling losses. Representative Steven Horsford called for action over a congressional change that could create tax liabilities for gamblers who break even.
Nevada legislators are making another attempt to bring back the complete federal write-off for gambling losses. That goal has yet to be achieved, even though more than twelve months have passed since Congress made a change that can force some bettors to owe tax despite finishing even. At the Global Gaming Expo in Las Vegas, Democratic Representative Steven Horsford again urged action, backing a bill that would let taxpayers write off all gambling losses against winnings, capped at the amount won.
The House Ways and Means Committee advanced a measure to restore the full federal deduction for gambling losses, Rep. Dina Titus said. The proposal was attached to H.R. 10357 and would reverse the 90% cap scheduled to take effect on 1 January 2027; House and Senate approval and the president’s signature would still be required.