Warning on ProphetX. They voided settled trades under Rule 4.6, including bets at normal odds. The rule gives 'sole and absolute discretion' to cancel any trade, both sides, lists 'fat-finger entries' as grounds, and charges '$10,000' to request review.
New: Michigan court grants the state’s request for a temporary restraining order against Kalshi over its sports event contracts. The order bars Kalshi from offering sports betting in the state and requires it to use a licensed third-party geolocation provider to comply.
New: UFC President Dana White has sent a letter to President Donald Trump asking him to help reverse the 90 percent limit on gambling loss deductions for US taxpayers that became law last year.
The issue has been a concern for both bettors and the gambling industry itself.
🚨@RepMaxMiller has joined the bipartisan effort to permanently restore the 100% loss deduction from gambling winnings.
Let’s get this commonsense fix through @WaysMeansCmte and to the House floor!
#FAIRBETAct 🎲
🔥SMART MONEY🔥
Exchanges are full of sharp action. Use that info to profit big.
Giving away FREE EXCLUSIVE ACCESS to anyone who
1. FOLLOWS @smartstakeapp
2. RETWEETS
3. DMs us "SMART"
Devs gave list of codes didnt count how many so GO FAST
👉 https://t.co/qa2nJecoi0
DON’T TRUST ODDS NO MORE IN ANY SPORT DO YA OWN WORK DO YA HOMEWORK 📚 LOL ODDS DOES NOT MEANS THAT’S WHAT’S GONE HAPPEN N HONESTLY I THINK THEM FOLKS KNOW THAT’S HOW PEOPLE DECIDE AND THEY CONFUSING FOLKS
SEC 70114 is unconstitutional.
• Introduced by @MikeCrapo
• Limits deductions to 90% of losses.
• Win $100k / lose $100k → IRS taxes $10k you never kept.
• The 90% cap violates the Sixteenth Amendment because it taxes something that is not “income.”
• Under Eisner v. Macomber (1920) income must be a “gain derived” from capital or labor.
• Under Commissioner v. Glenshaw Glass (1955) it must be an “undeniable accession to wealth, clearly realized, over which the taxpayer has complete dominion.” When a gambler’s wins and losses net to zero, there is no accession (increase) to wealth.
This phantom "income" tax will go into effect starting tax year 2026. @repdinatitus is working on a bill that would reverse this unfair anti-gaming tax provision. Let's hope common sense prevails and this is quickly reversed before 2026 gets here.
#Kill70114 #StopHiddenTax
Dark day in New Jersey ⛈️- and for the future of sports betting.
Consumers were hit with a TRIPLE WHAMMY of bad legislative moves.
1) Gross Gaming Revenue taxes were raised to 19.75% for operators - as we've seen, this flows through to the consumer with poorer pricing and higher margins.
2) Sweepstakes betting was declared illegal in the state. The NJ bettor will now have far fewer trusted places to make a bet.
3) And perhaps the most egregious - betting partnerships were criminalized in the state. Fortunately, the language was softened a bit from what was originally proposed.
However, if you make a bet for someone else, you are now committing a crime equal to using loaded dice on craps, marking cards in blackjack, or rigging a slot machine.
Shohei Ohtani is Gay.
Amazed this story has not come out yet.
He had an inappropriate relationship with former translator Ippei Mizuhara.
Ask anyone who works for the Dodgers. Most signed an NDA but the right person will talk.