The House Ways and Means Committee’s September 16 approval of repeal language (38-5 vote, attached to H.R. 10357) has advanced bipartisan efforts led by Nevada representatives to restore the full wagering-loss deduction for tax years after December 31, 2025, reversing the 90 percent cap enacted in the 2025 One Big Beautiful Bill Act. Full House consideration is unlikely before the November midterms, followed by Senate passage and enactment, all before the January 1, 2027 deadline that would make the change retroactive for 2026. Industry mobilization and cross-aisle cosponsors have built momentum, yet the compressed calendar, revenue impact estimates near $2 billion over a decade, and remaining procedural steps sustain trader consensus that repeal is more likely to miss the 2027 window.