Recent committee progress on restoring the full 100% federal deduction for gambling losses against winnings has not yet overcome key procedural hurdles. The House Ways and Means Committee advanced related language in H.R. 10357 on September 16, 2026, by a 38-5 vote, attaching the fix to broader digital asset tax legislation. However, the House entered recess ahead of the November midterms, leaving limited floor time before the January 1, 2027 effective date of the 90% cap enacted in the One Big Beautiful Bill Act. Bipartisan sponsors from Nevada continue to push for Senate action and presidential approval, yet the compressed timeline and competing legislative priorities leave full repeal before 2027 uncertain in traders' assessments.