Steve Ruddock Breaks Down New Gambling Tax Laws, Legal Challenges & the Future of Prediction Markets

Steve Ruddock Breaks Down New Gambling Tax Laws, Legal Challenges & the Future of Prediction Markets

In this eye-opening episode of Double Down with Breslo, host ⁠James Breslo⁠ welcomes ⁠Steve Ruddock⁠, Publisher of ⁠"Straight to the Point⁠" and one of the gambling industry's most respected voices. The two dive deep into the recent changes in gambling tax laws, including the controversial 90% deduction cap on winnings and how it’s impacting both casual and professional players.

Steve breaks down how W2G forms skew the real financial picture for gamblers and why the IRS's new rules could discourage high-stakes play. They also discuss the American Gaming Association’s response and whether this policy will stand amid growing bipartisan opposition.

The conversation shifts to the legal ambiguity around daily fantasy operators like ⁠PrizePicks⁠ in California, the murky status of online gambling, and what it all means for the future. Ruddock also introduces the concept of prediction markets—a regulated alternative gaining traction in the betting space.

👉 Don’t miss this deep-dive into gaming regulation, policy shifts, and the legal grey areas shaping the future of gambling.

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