US President Donald Trump said he would consider eliminating tax on gambling winnings, reportedly. The report says winnings above $600 must be reported on a W-2G form, and that winnings above $5,000 are subject to a 24% tax; gambling losses can reduce the taxable base.
A change could affect tax reporting and liabilities for gambling operators’ customers.
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Massachusetts lawmakers are considering Senate Bill 302, which would increase the online sports betting tax from 20% to 51%, according to the report. The proposal would also prohibit in-play and proposition bets, restrict televised sports wagering adverts and VIP programmes, and require affordability checks above specified betting thresholds; its reporting deadline was extended to 6 March 2026.
A Reuters/Ipsos poll found that most US adults oppose betting on election outcomes and government decisions, amid debate over prediction-market regulation. The survey found 69% of Democrats and 61% of Republicans opposed election betting; 65% opposed bets on military operations and 63% opposed bets on public-policy decisions.
Most US adults oppose using prediction markets to bet on election results and government decisions, according to a Reuters/Ipsos poll released on 12 October. The survey was conducted between 30 September and 5 October and polled 4,506 US adults. It found 69% of Democrats and 61% of Republicans opposed to betting on election outcomes.
A Reuters/Ipsos poll found that most US adults oppose prediction-market bets on elections and government decisions. The online survey of 4,506 adults, conducted from 30 September to 5 October, found 63% opposed bets on executive announcements and decisions; 69% of Democratic voters and 61% of Republican voters opposed election bets.
Kalshi reportedly opened an investigation into three trades placed before Donald Trump announced Katie Zacharia as White House press secretary. The trades totalled $173 and had potential payouts of more than $9,600, but no evidence has been disclosed showing that the traders used confidential information.
The CFTC’s Division of Market Oversight issued guidance on 22 September for US prediction-market contracts tied to individuals’ words or actions. The agency said exchanges should assess possible outside influences, independent verification and surveillance before listing these contracts, while noting the guidance explains existing obligations rather than adding new ones.