U.S. President Donald Trump speaks with Secretary of State Marco Rubio and UFC CEO and President Dana White throughout UFC 327 at Kaseya Middle on April 11, 2026 in Miami, Florida.
Julia Demaree Nikhinson | Getty Photos
UFC President Dana White penned a letter to President Donald Trump pleading for him to reverse a provision of his signature tax legislation.
White requested the president to undo a 90% cap on playing loss deductions that was permitted as a part of his “large stunning invoice,” in keeping with a letter first reported by an impartial journalist. ESPN reported that the group independently confirmed the authenticity of the letter.
Merchants on prediction market platform Kalshi do not suppose the legislation might be repealed this 12 months, however White’s letter moved the percentages. After the primary report of the letter, possibilities that the cap might be repealed this 12 months jumped to 37% from 20%. They’ve since fallen again to 29%.
The supply limits how a lot taxpayers can deduct from their taxable winnings from playing. Earlier than, if somebody gained each $5,000 by means of playing and misplaced $5,000, they would not pay any tax. Now, a taxpayer is just capable of deduct $4,500, and thus is left with $500 of taxable winnings.
In his letter, White praised Trump’s tax legislation, however mentioned this provision within the package deal is already inflicting issues.
“The present legislation makes it irrational to guess in the US since you may find yourself owing taxes even once you lose or having a tax invoice that exceeds your winnings for the 12 months,” he wrote, in keeping with a screenshot of the letter. “When authorized betting is discouraged, it hurts the ecosystem we have spent years constructing in partnership with state regulators and licensed operators.”
The change was included to permit the tax legislation to fulfill procedural guidelines within the U.S. Senate so the general package deal may very well be permitted with solely Republican votes, in keeping with Tax Basis suppose tank.
In an announcement, the American Playing Affiliation praised White for elevating the salience of the difficulty. Nevada politicians — the place the UFC is headquartered — praised the letter. Sen. Catherine Cortez Masto, D-Nev., has a invoice to reverse the availability with Sen. Ted Cruz, R-Texas.
“It is hurting gamers, our gaming and tourism trade, and the employees who rely on them for his or her livelihoods,” she mentioned in a publish on X. “I agree with Dana White, the President wants to affix us and repair this now.”
Disclosure: CNBC and Kalshi have a business relationship that features buyer acquisition and a minority funding.