DraftKings CEO Criticizes Gambling Provision In Trump's OBBBA

DraftKings CEO Jason Robins slammed a brand-new tax arrangement in President Donald Trump's proposed megabill, calling it "very strange" and illogical. Robins questioned why bettors should tax on money that isn't actual earnings.


- DraftKings CEO states Trump's OBBBA does not make sense.
- The OBBBA avoids bettors from deducting 100% of their losses.
- DraftKings states it's working with lawmakers to nix the arrangement.


"I do think it's something that does not makes good sense," Robins informed CNBC's Jim Cramer. "If you can't subtract all your losses, you understand, how does that make good sense that you pay income tax on something that's not in fact income."


The provision, highlighted in the GOP's One Big Beautiful Bill Act (OBBBA), would avoid bettors from deducting 100% of their losses from their payouts, which was formerly thought about basic practice. Under the brand-new rule, just 90% of losses can be subtracted, indicating that even a break-even gambler still owes taxes.


Robins associated the change to a budget reconciliation technicality called the Byrd guideline and included that DraftKings is dealing with lawmakers to reverse the arrangement.


Congress introduces FAIR BET Act to fight Trump costs


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


The new rule triggered a reaction from market professionals who argue the OBBBA unjustly strains taxpayers and dissuades transparent reporting. The FAIR BET Act, co-sponsored by Rep. Ro Khanna of California, looks for to restore the previous rule, which enables 100% of betting losses to be deducted from winnings.


Titus condemned the betting tax provision, stating Senate Republicans placed it without House approval and that it might drive bettors towards unregulated markets. Titus insists her bill ensures fairness for all bettors and promotes accountable wagering through legal operators.


DraftKings reports favorable Q2 incomes


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


Robins credited the business's success to strong customer engagement, efficient acquisition techniques, and favorable betting outcomes. He revealed optimism about the continued legalization of sports wagering throughout the U.S., expecting significant markets, such as Texas and California, will be consisted of.