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DraftKings CEO questions Trump’s gambling tax rule
DraftKings CEO Jason Robins questions the logic behind a new gambling tax rule limiting loss deductions in President Donald Trump’s proposed megabill.
Previously, gamblers were allowed to deduct 100% of their losses against winnings, meaning they paid taxes only on net winnings. The new rule suggests the deduction of only 90% of losses. For example, if a bettor wins $1,000 and loses $1,000, they may now only deduct $900, resulting in $100 of taxable income.
DraftKings CEO Jason Robins criticized the rule:
“If you can’t deduct all your losses, you know, how does that make sense that you pay income tax on something that’s not actually income.”
He referred to the rule as a “very strange change” and believes it was added due to a technicality connected to the Byrd Rule. The Byrd Rule restricts the inclusion of provisions unrelated to federal revenue or spending in reconciliation bills. He said there is some “appetite” to amend the provision and confirmed that DraftKings is working with lawmakers on the matter.
DraftKings reported record-breaking Q2 2025 revenue results after the market closed, attributing performance to continued healthy customer engagement, efficient acquisition of new customers, higher structural sportsbook hold percentage, and sportsbook-friendly outcomes. After the report, the company’s stock increased by more than 3%.
Robins also commented on the status of online sports betting legislation across the US. Robins said he thinks progress has been made across the board and suggested that the practice may eventually be legal in more states.
He said:
“I can’t imagine a world where you can, you know, bet in 30, 40 plus states, and California is not one of them, and Texas is not one of them.”
Online sports betting is currently legal in 34 US states, based on data from the American Gaming Association.
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