The Culture War Podcast with Tim Pool Trump Bill Will END Fantasy Sports And Pro Poker, POISON PILL Could Ban Gambling And BLOCK Bill
Jul 2, 2025
Doug Polk, a seasoned poker professional and YouTube creator, joins the conversation about a controversial Trump bill that could spell disaster for gambling. They dive into the potential impact on fantasy sports and casual gamers, discussing issues like addiction and regulatory overreach. Polk highlights the financial ramifications of proposed tax changes, emphasizing how they might push players to illegal markets. The dialogue reveals a tense tug-of-war between personal freedom and government regulation in the evolving gambling landscape.
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Bill Tax on Gamblers' Losses
- This bill limits gamblers to writing off only 90% of their losses, creating a tax on imaginary profits.
- It taxes both losing and winning gamblers unfairly and is detrimental to the gambling industry.
Tax Bill Threatens Gambling Livelihoods
- Recreational gamblers and professional poker players will be severely impacted by this law change.
- Many professional gamblers with small edges will no longer profit due to the new 10% taxation hurdle.
Gambling Tax Disrupts Loss Deductions
- Gambling losses and winnings are tracked throughout the year and offset against each other on taxes.
- The bill disrupts this by disallowing full loss deductions, taxing gamblers even when overall losing.