Gamblers Now Owe Tax on Money They Never Won. The Fix Is Stuck in Congress. The federal gambling loss deduction changed on Jan. 1, 2026, and the change is now real money out of real pockets. Under the old rule, a gambler who itemized could deduct losses up to the full amount of winnings, so … Read more
The 2026 World Cup is the first on US soil since legal sports betting spread nationwide, and New Jersey wants a 10% cut of the wagers, while prediction markets and offshore books circle the states where sportsbooks still cannot operate.
DraftKings and FanDuel walked away from the AGA in November 2025 and now sit opposite the trade group at the first congressional hearing on federally regulated event contracts. The May 20 Senate Commerce Subcommittee hearing marks the formal start of federal legislative consideration.
The federal calendar between June and September 2026 brings trial-track activity in two interconnected gambling probes that together have generated indictments naming approximately sixty defendants. The cases share an FBI investigative umbrella known internally as Operation Nothing But Net.