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A policy stemming from President Donald Trump’s One Big Beautiful Bill Act (OBBBA) would allow workers to deduct taxes for tips received via casino chips.
A policy from the IRS, originating from the OBBBA that was signed back in July, would make casino chips included in a tax break that applies to “tangible or intangible tokens that are readily exchangeable for a fixed amount in cash”. While this is not focused only on casino chips, and also includes tips given by check, credit or debit card, gift card, and electronic payment, it’s good news for casino workers, at a time when the future of physical casinos is under threat.
The ‘no tax on tips’ policy was first put forward by President Trump last year and states that workers will be able to implement the rule when filing their taxes in 2026. The policy will stay in place until the end of 2028, meaning that employees can deduct up to $25,000 in tips from their taxable income per year, so long as they earn less than $150,000 gross in a year.
Beyond casino chips
As well as including casino chips for gambling workers, other roles that have been mentioned in connection with the OBBBA policy are home repair workers, tutors, hair stylists, pet caretakers, golf caddies, travel guides, valet drivers, and fitness trainers, to name but a few.
However, casino chips are mentioned directly in the Explanation of Provisions on the Federal Register, highlighting that it’s seemingly a direct focus of the policy. Workers will also benefit from the ‘no tax on tips’ policy through the consideration of Tip Rate Determination Agreements and Gaming Industry Tip Compliance Agreements, which means that the IRS does not require workers to track individual tips by leveraging a set rate for their tax reports.
There will be a public hearing to address any questions on the policy on October 23.
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Predictions market Kalshi continues its push into sports betting with a new job role for someone with ‘extensive experience with sportsbooks’.
Despite facing lawsuits for alleged unlicensed sports betting services, Kalshi appears to continue chasing the sports betting market with a dedicated new job role. Titled Sports Operations and based in New York, one of the top requirements for the role is “extensive experience with sportsbooks”, going on to highlight that a successful candidate should “understand how sportsbooks operate, common market types, settlement procedures, and the edge cases that arise in sports market operations.”
The job description goes on to describe that “a critical member” is needed to ensure Kalshi’s sports markets run flawlessly.
“The Sports Operations team is responsible for the precise execution of sports market listings, determinations, and maintaining the integrity of our sports prediction markets,” it reads. “We’re scaling rapidly, which means your role will evolve and grow with the company.”
Kalshi steps closer to sportsbooks territory
That underlines the moves that the prediction market has made recently, with it announced last week that Kalshi is working with the CFTC to launch three new sports betting options. While facing obstacles to its sports betting options, the company has expanded its offering rapidly over the last few months.
This new role suggests that Kalshi isn’t planning on slowing down in its sports event contracts, despite the ongoing legal cases in Massachusetts and New Jersey. In states where sports betting is illegal or restricted, the lawsuits allege that Kalshi is offering illegal unlicensed services through its sporting markets.
Kalshi hasn’t been shy about its aspirations, with a notable NFL-themed campaign ahead of the 2025/26 season that sets the company out alongside traditional sports betting platforms. There is also more betting terminology user in its marketing, using words like ‘bet’ and ‘wager’, as well as introducing the option to play multi-leg bets.
Featured image: Kalshi
The post Kalshi to ramp up its sports betting operations with “critical” new hire appeared first on ReadWrite.

Kalshi has swiftly deleted a social media post and sign-up form relating to a student ambassador program for US colleges.
Prediction market Kalshi announced in a now-deleted social media post that it was seeking ‘ambassadors’ across a number of US college campuses. Following backlash from some, the post and related webpage has now been taken down.

“Excited to welcome Yale, Harvard, Berkeley, Penn, Cornell, UVA, Michigan, Texas, Stanford, and NYU clubs into our ecosystem to both trade and build,” the company posted on the social media platform X, as reported by Gambling Harm. “College campuses are the best place to spark new financial movements and will play a key role in bringing the next 100M users to prediction markets.”
The post on X linked to a webpage where students could sign up to promote Kalshi on their campuses, seemingly seeking influencers by asking users to provide links to social media profiles. While sports betting is typically only open to those aged 21 and over, Kalshi – as a prediction platform rather than a traditional betting site – is open to users aged 18 and over.
Kalshi courts the betting market
Appealing to users aged under 21 is another way that Kalshi can offer betting-style services where regulated sportsbooks can’t. The platform is facing lawsuits for allegedly offering illegal sports betting in states like Massachusetts where the practice is banned.
Yet Kalshi has backing from powerful figures in the US, with Donald Trump Jr sitting on the board in an advisory capacity, as well as injecting a substantial amount in financially via 1789 Capital. Kalshi is also currently working with the CFTC to provide more sports betting services.
Ahead of the 2025/26 NFL season, Kalshi has made sports bets a central point of its marketing, with social media ads running about its NFL betting available nationwide. The types of bets available are similar to those available on regular sportsbooks, sparking criticism in some states that the contracts are essentially unlicensed gambling services.
Readwrite has reached out to Kalshi for comment.
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The post Kalshi backtracks on student ambassador program after backlash appeared first on ReadWrite.