UFC’s Dana White urges Trump to reverse gambling tax law. His letter moved the prediction market

• Dana White in a letter to President Donald Trump urged him to reverse a cap on gambling loss deductions approved as part of his signature tax law.
• Odds that the cap is reversed this year jumped on prediction markets platform Kalshi.

UFC President Dana White penned a letter to President Donald Trump pleading for him to reverse a provision of his signature tax law. 

White asked the president to undo a 90% cap on gambling loss deductions that was approved as part of his “big beautiful bill,” according to a letter first reported by an independent journalist. ESPN reported that the organization independently confirmed the authenticity of the letter. 

Source: https://www.cnbc.com/2026/05/14/ufcs-dana-white-urges-trump-to-reverse-gambling-tax-law.html