Congresswoman Dina Titus has taken to social media to poke enjoyable at prediction markets within the wake of the FAIR BET Act’s momentum.
The consultant from the First District of Nevada within the US Home of Representatives has been in search of a “frequent sense repair” to the adjustments launched within the present President of america’ (POTUS) megabill, generally known as the One Huge Lovely Invoice Act (OBBBA).
FAIR BET Act gathers help
The adjustments launched within the OBBBA would imply that gamblers would face a 90% discount in taxation on playing earnings, in comparison with the present 100%.
This might imply a gambler who wins $100,000 after which loses $100,000 could be required to pay $10,000 in taxes, regardless of the lack of revenue, as we reported.
The Congresswoman is hoping that the act’s introduction, which she heralded earlier this week (July 21, 2025), will fight a few of the wider sweeping playing adjustments that have been proposed within the OBBBA.
She stated, “On Monday, I’m introducing the FAIR BET Act, the Honest Accounting for Earnings Realized from Betting Earnings Taxation Act, to completely restore the 100% loss deduction from playing winnings.”
Titus has many supporters within the playing capital of the world, which can also be her dwelling turf, Las Vegas. Playing and the taxation that states rely on as an enormous supply of economic help can even weigh into the argument Titus is making.
She now has ten co-sponsors to the FAIR BET Act, a few of whom are republican representatives.
- Rep. Ro Khanna (D-CA)
- Rep. Steven Horsford (D-NV)
- Rep. Susie Lee (D-NV)
- Rep. Gilbert Ray Cisneros (D-CA)
- Rep. Christopher R. Deluzio (D-PA)
- Rep. Darren Soto (D-FL)
- Rep. Jefferson Van Drew (R-NJ)
- Rep. Mark E. Amodei (R-NV)
- Rep. Man Reschenthaler (R-PA)
- Rep. Troy E. Nehls (R-TX)
Titus pokes enjoyable at prediction markets
Titus has additionally been tongue-in-cheek on social media, saying, “You understand the FAIR BET Act has made it when two prediction markets I’m making an attempt to close down are providing odds on its passage.”
You understand the FAIR BET Act has made it when two prediction markets I’m making an attempt to close down are providing odds on its passage. pic.twitter.com/Z5KkkcdChY
— Dina Titus (@repdinatitus) July 21, 2025
As ReadWrite reported, there had been appreciable stress on prediction markets, together with regulatory scrutiny that resulted in Polymarket and Kalshi being investigated by the US Division of Justice.
These fees have been lately dropped, and within the wake of this determination by the Justice Division, Polymarket made a comeback to america in an official capability by taking on QCEX.
The deal now permits Polymarket to exist as a registered U.S. firm, and Shane Copland, the CEO of the predictions supplier, wasted no time in asserting the choice.
He stated, “Polymarket has acquired QCEX, a CFTC-regulated trade and clearinghouse, for $112 million. This paves the best way for us to welcome American merchants once more. I’ve waited a very long time to say this: Polymarket is coming dwelling.”
A listening to is going down in Titus’ dwelling state this Friday, 25 July 2025, at 10:00 AM (Pacific Daylight Time) at YESCO in Las Vegas, Nevada and the playing world might be watching on with curiosity.
Featured picture: Dina Titus on X / Kalshi / Polymarket
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