*PHILADELPHIA – Legendary Philadelphia International Records co-founders and R&B pioneers Kenneth Gamble & Leon Huff released the following joint statement today as they mourned the passing this ...

The UFC's Dana White is asking President Trump to change a new law that could see American casino and sports gamblers pay taxes even if they lose money in the year ...

The ink is barely dry on President Donald Trump’s sweeping new tax law. But a debate is already underway over a gambling provision that could reshape how millions of U.S. gamblers are taxed on their ...

We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up for any (or all) of our 25+ Newsletters. Some states have laws and ethical rules regarding solicitation and ...

A new tax cap on gambling loss deductions could raise costs for high rollers and shift bettors toward prediction markets and unregulated alternatives. The "Big Beautiful Bill" limits gambling loss ...

Public Law No. 119-21, 139 Stat. 72 (2025) — known as the One Big Beautiful Bill Act — introduces a change to the treatment of gambling losses under the Internal Revenue Code. Gamblers could deduct up ...

Congressional gridlock and a federal shutdown stall efforts to restore full gambling loss tax deductions before 2026. Wednesday’s federal government shutdown has become Congress’ No. 1 priority, ...

The Republican megabill that is now law includes a key tax provision that has the gambling industry frustrated, and some lawmakers are already pushing for changes. Republicans pushed the Senate-passed ...

Industry experts say a seemingly minor adjustment to the gambling tax code found in President Donald Trump’s signature bill is “bad policy” and could have major unintended consequences. During a ...