Direct Taxes News

YES

NO

YES

NO

YES

YES

Gambling losses deduction remains limited to 90% as laid out in OBBB

Congress explicitly intervenes to restore 100% deduction (example Rep Titus FAIR BET act enacted)

Mainstream pro gamblers move primarily to prediction markets for tax treatment

Administrative action classifies sports prediction markets as gambling for tax purposes

Court ruling classifies sports prediction markets as gambling for tax purposes

Legislation classifies sports prediction markets as gambling for tax purposes

Major sports book restructures as a prediction market before 2026-01-01

NO

YES

YES

[20%, 30%)

There will be no estate/gift/inheritance tax in 2054

[0%, 10%)

[10%, 20%)

[30%, 40%)

[40%, 50%)

[50%, 70%)

[70%, 90%)

[90%, 100%)

There will be no estate/gift/inheritance tax in 2054

$0

[$0, $100,000)

[$100,000, $500,000)

[$500,000, $2,500,000)

[$2,500,000, $10,000,000)

[$10,000,000, $20,000,000)

[$20,000,000, $40,000,000)

[$40,000,000, $100,000,000)