Overview
- White, whose letter to the president is dated Monday, asked Trump to push Congress to scrap the 90% cap on deducting gambling losses.
- The rule applies to 2026 tax filings and means a bettor who wins $100,000 and loses $100,000 would still owe tax on $10,000.
- UFC confirmed the letter’s authenticity, and the American Gaming Association and Nevada lawmakers Dina Titus and Catherine Cortez Masto voiced support for restoring a full deduction.
- Following news of the letter, Kalshi odds that the cap gets repealed this year jumped to 37% from 20% before easing to about 29%.
- Analysts at the Tax Foundation say the cap helped the bill clear Senate rules for a party‑line vote, and some professional gamblers say they are cutting back play under the new costs.