Trader consensus reflects near-certainty at 98.8% "No" that Congress will repeal the cap on gambling loss deductions—limited under IRC Section 165(d) to the extent of winnings—by March 31, driven by the absence of any introduced bills, committee hearings, or floor votes in the past 30 days. Recent tax policy debates in the new 119th Congress prioritize broader priorities like extending 2017 Tax Cuts and Jobs Act provisions and partial SALT cap relief, sidelining this niche issue lacking bipartisan sponsorship or gambling industry momentum. Procedural hurdles, including House Ways and Means and Senate Finance Committee approval, reconciliation rules, and presidential signature, make enactment improbable absent a surprise rider on must-pass legislation such as a continuing resolution or omnibus spending bill before the deadline. Late-breaking scandals, endorsements, or executive action could theoretically shift odds, though historical base rates for such narrow tax changes remain exceedingly low.