A new tax law effective in 2026 limits gambling loss deductions to 90% of winnings. Learn how this creates "phantom income" ...

Large language models repeatedly chased losses, escalated risk and even bankrupted themselves in simulated gambling ...

If you’ve been waiting for the One Big Beautiful Bill tax changes for gambling losses to be reverted, you’re not alone. As Congress gets back to work, a big issue is on the table for gamblers and the ...

The recent NBA betting scandal that led to more than 30 arrests has spurred renewed regulatory and fan focus on illegal gambling and professional sports. Financial advisors, meanwhile, say the spike ...

LOUISVILLE, Ky. (WDRB) -- The threats were specific, violent and deeply personal. A newly released University of Louisville police report offers chilling new details in the case of a Texas man accused ...

Gambling can be thrilling, but it can also lead to huge losses. Throughout history, there have been many stories of people who lost a lot of money due to their gambling habits. This article looks at ...

Legislation to restore a key gambling loss tax deduction still awaits further action as the U.S. House of Representatives returns to normal business. Congress has yet to act on legislation that would ...

The 90% limit on deductibility of gambling losses is scheduled to take effect with the first tax year beginning January 1, 2026. Despite the proximity to the law being in effect, there is a late‑stage ...

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It's a decent bet: Professional gamblers will become the first taxpayers ever to pay Uncle Sam for unrealized or "phantom" income in 2026. Processing Content That's because, barring changes to the One ...