This new amendment to the One Big Beautiful Bill Act would end professional gambling in the US and hurt casual gamblers, too.
You could pay more in tax than you won.
Contact your representative quickly.
The goal of legalized wagering was to bring bets from offshore grey and black markets into the regulated onshore space yet with every mind boggling decision from both regulators and politicians we continue to seemingly push money back offshore and take massive steps backward. It is simple: provide a good regulated environment for both bookies and bettors to operate and reap the rewards for a fantastic product offering and all the tax benefits/revenue that comes with it. However - greedy, illogical, and uneducated decisions from these folks have forced some sportsbooks out of business or to sweeps, lessened competition, made market access damn near impossible all for some short term tax gains that is going to burn out a-lot of the industry and its patrons. Hopefully things change although it doesn’t seem like we are headed in a positive direction when the decision makers at the top are all absolutely clueless (which is being kind).