Titus introduces Fair Bet Act as amendment to 2026 NDAA
The Nevada Representative originally introduced the legislation on July 7 in response to President Donald Trump’s signing of the Big Beautiful Bill Act just days prior.
Key Points
- Titus encouraged Republicans to enforce the amendment in order when it goes before the House Rules Committee in September
- President Trump’s budget reconciliation bill would only allow for gamblers to deduct 90% of their losses along with any winnings made throughout the year
Nevada Representative Dina Titus has introduced her Fair Accounting for Income Realized from Betting Earnings Taxation (Fair Bet) Act to the 2026 National Defense Authorization Act (NDAA), set to go before the House Rules Committee once Congress reconvenes in September.
“The fight to restore the 100% gambling loss tax deduction continues,” Titus said as part of a social media statement announcing the introduction.
“I strongly encourage the Republicans to make this amendment in order when it goes before the House Rules Committee upon our return to Congress next month.”
The Nevada Representative originally introduced the legislation on July 7 in response to President Donald Trump’s signing of the Big Beautiful Bill Act just days prior. President Trump’s budget reconciliation bill would only allow for gamblers to deduct 90% of their losses along with any winnings made throughout the year.
Going into effect at the beginning of 2026, if a player wins $100,000 while participating in any form of gambling but also loses $100,000, they would still be required to pay $10,000 in taxes.
Good to know: Polymarket received an investment from Donald Trump Jr.-backed 1789 Capital, rumored to be in the double-digit millions of dollars, as the current President of the US’ son will also join the prediction markets platform’s Advisory Board
Titus previously stated the US government “should be encouraging players to properly report their winnings and wager using legal operators,” as she believes the recent changes will “push people to not report their winnings and to use unregulated platforms.”
The bill is co-sponsored by fellow US Representative Ro Khanna and was described as “common-sense legislation” by Titus at the time of introduction.
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