Trump says he’ll think about eliminating taxes on gambling winnings

President Donald Trump could be thinking about eliminating taxes on gambling winnings.

While aboard Air Force One, Trump was asked if he had any plans to do away with federal taxes on gambling winnings, which is something he has not addressed yet. While it isn’t currently in the works, the president said he would “have to think about that.”

Watch:

NEW: President Trump was asked about “no tax on gambling winnings” following today’s speech at a PA casino, which would be the best possible solution to the disastrous and unfair gambling provision in July’s “One Big Beautiful Bill”.

He at least entertained the idea, but it… https://t.co/6tkYLoPdZ9 pic.twitter.com/nhaX4v8b4v

— DataBasedBets (@DataBasedBets) December 10, 2025

“We have no tax on tips, we have no tax on Social Security, and we have no tax on overtime,” he chuckled. “No tax on gambling winnings, I don’t know. I’m gonna have to think about that.”

American Gaming Association data indicates that “nearly 60% of all American adults gambled in the past year,” with “30% gambling at a physical casino and 21% placing sports bets.”

“A W-2G form is typically issued to anyone who wins over $600 and the regular withholding rate for gambling winnings of $5,000 or more is 24%, according to the Internal Revenue Service (IRS). The tax applies to lotteries, raffles, horse races and casinos, amongst other forms of gambling,” according to Fox Business. “Up to 28% of the prize could be withheld for federal income tax if the individual won more than $5,000, and that amount jumps to 31% if a Social Security number is not provided to gambling establishments.”

This means an elimination could be a huge hit among Americans, and would likely encourage participation in gambling activities if people knew they’d be able to keep a larger portion of any winnings. However, any state taxes on winnings would still be applicable.

X users commented:

can this apply to the stock market, too? thats gambling

— FrontRowBrian ₿ (@FrontRowBrian) December 10, 2025

actually, gambling exacts a MASSIVE social toll and should be taxed EVEN MORE to make up for it, degenerate whinging aside.

— Conspiracy Apologist (@Conspologist) December 10, 2025

Thanks for posting about this Brian! The gambling community appreciates it.

Is the President aware that a provision snuck into July’s OBBB will unfairly tax phantom gambling income?

Scenario:
Wins: $200,000
Losses: $200,000
Deductible Losses: $180,000
Taxable Income: $20,000 https://t.co/nZdlyAFzlq

— DataBasedBets (@DataBasedBets) December 10, 2025

Actually a great question as gambling winnings should be tax exempt.
It’s a joke and absolute theft that they aren’t. Ridiculous.

— Chaddie & Maddie (@hoopsburger) December 10, 2025

Brian, love that you asked this question.

I think the more important and realistic question at the moment is how Trump plans to address the 90% cap on gambling loss deductions in the big bill which essentially creates a phantom income tax.

— Joe Franchise (@sprusfwitter) December 10, 2025

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