The US President planning to eliminate all taxes on gambling winnings

[Jatiluhung]

Although it seems that there is no certainty at all regarding this issue. It is still just a proposal or something similar. However, if there is a possibility that this could actually happen—that is, no taxes on gambling winnings—then that would be good news for U.S. citizens. Because, in my opinion, there really should be no taxes on gambling, except for the casino service providers themselves. But for the players who win, I don't think there should be any taxes. BBecause most of them experience more losses than wins. But let's just wait and see how this news develops.

[CryptSafe]

I would not be surprised to hear such because there is definitely some benefit from it across all corners. You can not be part of a system and allow the system to encounter challenges that could cause a threat to it, making you not get what you benefit from it fully. So he is planning, and such is not coming as a surprise, though, and this goes to show that there are likely some unseen forces behind the polymart prediction platform, which we know not who are taking advantage of the platform and the system on which it is managed.

[9ja Amaka]

Why do I think there is a catch here. Trump is actually planning something, so we need to pay close attention and see where he is heading to.
In my country, they have imposed taxes on the citizens, including crypto exchanges and crypto casinos, while in the US government is trying to eradicate taxes on gambling winnings.
This will be a good news for gamblers and casino owners.

[Hypnosis00]

Good move, this was long overdue. Gamblers don’t win all the time, most of the time we actually lose, so it never really made sense to heavily tax someone just because they got lucky once.No taxes on winnings just feels more reasonable. The state already has plenty of ways to collect money if they can implement their tax system properly, there’s no need to squeeze gamblers even more on their rare winning days.

Good point. Gamblers have been losing first before luck hits in, so where's the equality and validity there if the gambler winnings will still be deducted by higher amount of tax. So I also have high hopes that this could be granted later on, although I'm not a US citizen so I won't enjoy this either.

If only gambling taxes will be lessened, if not completely vanished, I think it would be a big favor on the part of the gamblers. After all, the government has a lot of sources for their taxes collection, so it won't be a loss once taxes in gambling will be removed, though gambling addiction might also be trigger with this proposal.

[r_victory]

Any tax exemption is welcome; if something like that happens, it's a dream for any gambler. If it were in Brazil, it would be great, as a 15% tax could be avoided.

It remains to be seen if it will pass; I believe that cutting revenue may not be viable for the current scenario in the United States. In 2025, total revenue was US$5.2 trillion, of which US$195 billion (a 250% increase compared to 2024) came solely from tariff increases, but even so, the country maintains a fiscal deficit of US$1.8 trillion. I don't know, gambling revenue generates an average of US$50 billion in taxable income; I think that's a lot of money to give up without others having to foot the bill.

I found this Yahoo Finance article to be very comprehensive on this subject; it's worth reading.

Other sources:
https://www.kiplinger.com/taxes/trump-eyes-gambling-winnings-tax-change
https://www.foxbusiness.com/politics/trump-says-hell-think-about-eliminating-tax-gambling-winnings

[sunsilk]

Why do I think there is a catch here. Trump is actually planning something, so we need to pay close attention and see where he is heading to.
In my country, they have imposed taxes on the citizens, including crypto exchanges and crypto casinos, while in the US government is trying to eradicate taxes on gambling winnings.
This will be a good news for gamblers and casino owners.

I don't think that it's good news for the casino owners because they'll still be taxed with their operations.

And I don't think that there's something that might be behind this removal of gambling taxes for the winners as for Trump's decision. He's doing it on the other sectors as well like the earners of $150k and below annually.

But it is helping the gamblers that they already going to get their winnings because should it had become a law, no more tax deductions.

[STT]

It is good news because so far as I know the number one thing for a casino is revenue, in fact that applies to alot of busineses.  The problem currently with the tax regime is it is detering customers who will go elsewhere to cheaper offerings.   
  Trump or anyone in politics really will come out with these policy ideas but often its not them who did all the research and went forward with the idea, its just he is the guy who gets to rubber stamp it into law or not because he has the power.
  Often the idea began many years ago and for good reason it would encourage business, it helps companies and so the economy with jobs and very likely yes more tax or some kind of revenue share is often what I hear about lowering gambling taxes is the idea.

[mv1986]

This is interesting news, I just came across this not quite long.. If the US remove taxes on gambling winnings, that would be good news for gamblers based in US. Because ive hear people complain that paying tax after they win always felt like a second loss, especially on big wins.

If this happens, it may attract more players and boost gambling activity in the US. Because I won’t lie, keeping 100% of winnings instead of handing some portion to the government is really cool.

source

I doubt this is correct as he actually implemented a lower cap on deductions for gambling losses within the Big Beautiful Bill. I don't see why he would lower the cap, pass the law that that now took effect and then considered abandoning tax on gambling altogether. I think he might have been asked about this and perhaps gave an unclear or mysterious answer about it, but it is not realistic to assume that he will abandon part of the Big Beautiful Bill that was literally just enacted.

Then again never say never since we are talking about Trump

[terrific]

It is good news because so far as I know the number one thing for a casino is revenue, in fact that applies to alot of busineses.  The problem currently with the tax regime is it is detering customers who will go elsewhere to cheaper offerings.   
  Trump or anyone in politics really will come out with these policy ideas but often its not them who did all the research and went forward with the idea, its just he is the guy who gets to rubber stamp it into law or not because he has the power.
  Often the idea began many years ago and for good reason it would encourage business, it helps companies and so the economy with jobs and very likely yes more tax or some kind of revenue share is often what I hear about lowering gambling taxes is the idea.

They didn't do all of the work in it but they played the most important part for implementing and making it a law.
If it's not for their signature and agreement to what's being proposed, it won't become a law.
So, it's a collective effort that's done for the sake of their people and they should be thanking all of it.
But yeah, the credit only goes to one big man, Trump himself.

[tread93]

Holy shit, Trump is on a roll. First he announced today that he will be capping all credit card interest in the US at 10% which is YUGE for the american public and will actually give them a clear path towards being out of debt instead of just barely making anything towards their principal and keeping people in growing and crippling debt and now he is planning to remove taxes on gambling alltogether? that is amazing. Trump is on a rampage to make the average American's life better. I love this man. He is advocating to remove property taxes also and also making our tax returns larger and give us more areas to get tax write off such as with car loan interest and tax free tips etc. Say what you will about Trump but he is one smart MF.

That credit card interest you’re talking about is a different thing, right? And when you say 10%, do you mean per year?

If it’s per annum, that’s actually pretty good, because credit cards usually have high interest and nasty penalties. So yeah, you’re right, a lot of people struggle to get out of debt once it starts piling up.

I’m not from the US, but I’ve been in debt before too. I got tempted by a higher credit limit, then eventually I couldn’t keep up with the balance. I did get out of it, but it took years.

Yeah 10% on annual basis and that is on the high end, he is calling all card companies to put that into effect by the end of the month. So if you have really good credit you can effectively or should be able to qualify for even lower rates than that!

Trump is walking the walk at this point making America great again its not just talking the talk. This man is delivering in a way that no president has been able to do in a very very long time, if ever. And all at a personal expense to himself! His time, his money, his passion for America. Its a noble pursuit and I respect the heck out of him for it. I'm sure you could argue that his kids are getting rich but honestly at this point that is just a by product of having the the type of affiliation with politics and the network you have. I feel like you'd be pretty stupid to not be rich if you're in a position like that.

[Sithara007]

Are these applicable for lotteries as well? Tax on gambling wins sounds like double taxation. You already pay a hefty tax when you go through the legal route, and participate in gambling through licensed casinos (both online and offline). The high tax burden has encouraged the mushrooming of online casinos based out of Caribbean islands, where there is no legal protection for the player exists if anything goes wrong. Also, the US government loses valuable tax money if players migrate to these platforms. Trump, being a businessmen knows how to handle this issue better than the career politicians.

[Finestream]

Are these applicable for lotteries as well? Tax on gambling wins sounds like double taxation.

I don’t think this includes lottery winnings, since those are usually big one-time wins. Regular gambling winnings aren’t even that huge most of the time, and realistically, even when a gambler wins, they’re usually still down overall. So in that sense, removing the tax actually makes sense.

If I win the lottery, I honestly don’t mind the tax. As far as I know, it’s already withheld anyway, meaning you don’t even have to report it yourself, it’s deducted straight from the winnings. That’s different from the gambling winnings being discussed here, where the president wants to remove the tax, since those are winnings you’re supposed to declare and remit yourself to the Internal Revenue Service.