The 90% cap on gambling loss deductions, enacted as part of the July 2025 One Big Beautiful Bill Act and effective for tax year 2026, has faced limited legislative momentum toward repeal. Bipartisan proposals such as the FAIR BET Act have been introduced to restore full deductibility up to winnings, and industry figures including Dana White have pressed the administration for reversal, yet these efforts stalled in Congress without advancing to a floor vote. No major tax package or standalone bill has cleared procedural hurdles by mid-2026, consistent with historical patterns where targeted relief provisions rarely attach to omnibus legislation outside election-year windows. Traders therefore view full repeal before December 31, 2026 as unlikely absent new catalysts such as a dedicated appropriations vehicle or executive action.