The CEO of sportsbook and Daily Fantasy Sports (DFS) platform DraftKings, Jason Robins, has criticized President Donald Trump’s One Big Beautiful Bill Act and its decrease in gambling loss deductions from 100% to 90%. In an interview with CNBC, Robins told Jim Cramer that it was a “very strange change.”
Previously, if a gambler won $1,000 gambling through the year, but also lost $1,000, they could deduct those gambling losses and not pay any tax. Now, bettors may have to pay taxes without actually making a profit from gambling.
While questioning the change in tax rules, Robins confirmed that DraftKings supports measures to get this part of the legislation overturned. Notably, Representative Dina Titus introduced the FAIR BET Act in July to restore the policy to its original form. The measure is under discussion by lawmakers.
While gamblers may face tough times with these new taxes, DraftKings is doing well. The company just published its Q2 results for 2025. Revenue of $1.5 billion in Q2 was up 37% compared to the same period the year prior.