DraftKings CEO Criticizes Gambling Provision In Trump's OBBBA
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DraftKings CEO Jason Robins slammed a brand-new tax arrangement in President Donald Trump's proposed megabill, calling it "really weird" and illogical. Robins questioned why bettors need to pay income tax on money that isn't actual earnings.

- DraftKings CEO says Trump's OBBBA does not make good sense.

  • The OBBBA prevents bettors from subtracting 100% of their losses.
  • DraftKings states it's dealing with legislators to nix the arrangement.

    "I do believe it's something that does not makes good sense," Robins told CNBC's Jim Cramer. "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 in fact earnings."

    The provision, highlighted in the GOP's One Big Beautiful Bill Act (OBBBA), would prevent gamblers from deducting 100% of their losses from their payouts, which was previously considered standard practice. Under the new rule, just 90% of losses can be deducted, implying that even a break-even gambler still owes taxes.

    Robins associated the change to a budget plan reconciliation technicality called the Byrd rule and added that DraftKings is dealing with lawmakers to reverse the provision.

    Congress introduces FAIR BET Act to fight Trump costs

    DraftKings isn't alone in opposing Trump's megabill. Nevada Congresswoman Dina Titus has introduced the FAIR BET Act to counter the controversial modification in betting tax policy.

    The brand-new rule stimulated a reaction from industry specialists who argue the OBBBA unfairly burdens taxpayers and discourages transparent reporting. The FAIR BET Act, co-sponsored by Rep. Ro Khanna of California, seeks to bring back the previous rule, which allows 100% of betting losses to be subtracted from earnings.

    Titus condemned the wagering tax provision, stating Senate Republicans placed it without House consent and that it might drive bettors towards uncontrolled markets. Titus insists her costs ensures fairness for all bettors and promotes responsible wagering through legal operators.

    DraftKings reports favorable Q2 incomes

    DraftKings, on the other hand, reported its second-ever successful quarter as a public company, leading to a 7% dive in stock value in after-hours trading on Wednesday. The business published $1.51 billion in income for Q2 2025, exceeding expert expectations of $1.43 billion.

    Robins credited the to strong client engagement, efficient acquisition techniques, and beneficial betting outcomes. He revealed optimism about the continued legalization of sports wagering across the U.S., expecting significant markets, such as Texas and California, will be consisted of.