Facilitating Useful Loss Limitations to Help Our Unique Service Economy (FULL HOUSE) Act

This bill brings back a clear rule for taxes on gambling. It says you can only deduct gambling losses up to the amount of your gambling winnings. It also makes clear that any costs tied to gambling (like certain expenses directly related to placing bets) count as “losses” under this limit . In short, you can’t use gambling losses or related costs to lower your taxes beyond what you won.

The change would start with the 2026 tax year (taxable years beginning after December 31, 2025) .

• Who is affected: People who report gambling income and claim losses or gambling-related costs on their taxes .
• What changes: Losses and related costs can only be deducted up to your gambling winnings, not more .
• When it starts: Applies to tax years starting in 2026 and after .