Poker legend Doug Polk is not holding back in his public campaign against a controversial tax provision introduced by former President Donald Trump’s “Big Beautiful Bill” (BBB). Appearing on News Nation, Polk made a compelling case for why the tax changes, set to roll out in 2026, will have a disastrous effect on poker players nationwide.
Since the signing of the BBB, many professional gamblers, especially in the poker world, have voiced concerns about the bill’s impact. Doug Polk, a well-known figure in the poker community, has become one of the most vocal advocates calling for a repeal of the gambling tax provisions that could hinder the livelihoods of many players.
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The Risks of the BBB Gambling Tax Changes
Polk’s message on News Nation was clear: the tax changes threaten the ability of poker players to maintain a career in the industry. He illustrated the issue by breaking down a typical scenario for poker players who often work on small profit margins.
“If you’re a winning gambler, your margins are small,” Polk explained. “You might gamble, let’s just say, $1 million a year. Or you might make $1.1 million or $1.05 million. So you might be making $50K, $100K, $150K. This law essentially makes you irrelevant. You can no longer actually even exist in your career path.”
The change in tax code, set for implementation in 2026, means that gamblers will only be able to deduct 90% of their gambling losses and expenses. Under the new rules, poker players who spend $1 million in buy-ins and earn $1.1 million in winnings will find themselves taxed on $200,000 in profit, not the $100,000 they actually earned.
What does this mean for poker players?
- Scenario under the new tax laws:
- Buy-ins: $1 million
- Cashes (winnings): $1.1 million
- Taxable Profit under current law: $100,000
- Taxable Profit under BBB’s tax provision: $200,000 (after deducting 90% of losses)
This drastic change in taxation could spell the end for many poker careers, as players will be taxed on hypothetical profits, rather than actual earnings.
The Other Side: Marc Short’s Argument
Marc Short, former Chief of Staff to Vice President Mike Pence, defended the new tax structure. He likened gambling wins and losses to the taxation of stock market transactions. However, Polk quickly shot down Short’s comparison, pointing out a significant flaw in the argument.
“Marc’s point might make sense if you could carry forward losses in gambling like you can with stocks,” Polk replied in a tweet. “But his point actually doesn’t make any sense whatsoever because there’s also an issue with gambling in our tax code. We’re not allowed to carry forward losing years. You might have a $3,000 cap on the amount of loss you can write off in a given year for your stocks, but you can carry that forward to the next year for your next year’s taxes; not the case with gambling.”
Polk’s argument highlights the unique challenges faced by poker players that stock traders don’t encounter. The inability to carry over losses from one year to the next could mean long-term financial hardship for players who may experience a bad year.
The Bipartisan Efforts for a Repeal
Polk is not alone in his fight against these changes. Several voices across the political spectrum have spoken out in support of reversing the harmful provisions. Senator Catherine Cortez Masto and Representative Dina Titus, both Democrats from Nevada, have filed bills to repeal the tax provisions. Republican Representative Andy Barr also introduced a bill to overturn the changes.
Even Jason Smith, the Republican Chairman of the Senate Ways and Means Committee, has thrown his support behind efforts to reverse the gambling tax changes.
Polk has taken the fight further by interviewing Senator Masto on his YouTube channel, further amplifying the push for a bipartisan repeal.
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The Fallout: What’s at Stake for Poker Players
Polk doesn’t mince words about the potential fallout if these tax changes go through. “It’s going to have a drastic impact,” he said on News Nation. “Not just for Vegas, but for many cities around the country, many different states. I live in Texas. Here, we have thousands of people who will impact, but can’t play. You’re going to see revenues drop, you’re going to see tourism drop, and you’re going to see jobs lost. You’re going to see a negative impact across the entire gambling space.”
Polk argues that the new tax provisions would harm not only the poker players but also the economies of cities and states that rely on gambling revenues. He warns that tourism and jobs would take a significant hit, affecting local economies for years to come.
Content Courtesy: Card Player
