White additionally famous this wasn’t the primary time he’d raised the problem with Trump. The 2 have mentioned it earlier than, which suggests the dialog has been ongoing behind the scenes.
Trump’s Response So Far
When requested concerning the playing tax provision again in December 2025, Trump saved his choices open.
“I don’t know. I’m gonna have to consider that.”
As of publication, the White Home has not responded to the letter publicly. That’s the lacking piece. Bipartisan help exists, the payments are written, and the highest-profile voice in Trump’s circle is now on report, however the President hasn’t given one.
Why the 90% Cap Hits Poker Gamers Hardest
The rule is easy. Earlier than January 1, 2026, gamblers might deduct 100% of their losses in opposition to their winnings. Now the cap is 90%.
The remaining 10% turns into taxable revenue that doesn’t really exist in your bankroll. That’s what the trade calls phantom revenue.
Right here’s what that appears like for 3 completely different participant profiles:
The breakeven participant made zero {dollars} and owes tax on $5,000. The mid-stakes professional earned $200,000 however will get taxed as if he made $480,000. That’s the issue in two numbers.
Why Poker Will get Hit Worse Than Sports activities Betting
An off-the-cuff NFL bettor may win $5,000 and lose $5,000 in a 12 months. The ten% disallowed deduction on that’s $500 in phantom revenue. Annoying, however manageable.
Poker is completely different. Match professionals cycle monumental quantities of cash via buy-ins. A participant who cashes $3 million throughout a 12 months may spend $2.8 million on entries, journey, teaching, and software program.
The actual revenue is $200,000. However underneath the 90% cap, solely $2,520,000 of these losses could be deducted.
That leaves $480,000 in taxable revenue on a $200,000 actuality. Phil Galfond was among the many first to run this math publicly after the OBBBA handed.
