A provision in President Donald Trump's recently passed "One Big Beautiful Bill Act" has introduced a new tax rule that limits the deduction of gambling losses to 90% of winnings, a change that has raised concerns among professional gamblers and industry stakeholders. Previously, gamblers could deduct 100% of their losses, but under the new law effective in 2026, they must pay taxes even if they break even or lose money. This tax hike, estimated at $1.1 billion, could significantly impact professional poker players, sports bettors, and the broader gambling industry, which generated nearly $115 billion last year. Critics argue this provision could drive gamblers toward offshore and unregulated markets, threatening the U.S. gambling ecosystem. In response, Nevada Representative Dina Titus introduced the bipartisan FAIR BET Act to restore full deductions for gambling losses. Senate efforts led by Senators Jacky Rosen and Catherine Cortez Masto to repeal the tax hike have so far been blocked by Senate Republicans, with some lawmakers seeking to negotiate the repeal only if other unrelated provisions are accepted. The controversy has sparked widespread debate about the fairness and economic impact of the tax change on gamblers and the gaming economy, particularly in Nevada.