Professional poker icon Erik Seidel has decided to scale back his tournament play, and it makes mainstream news.

According to CNBC, Seidel says the new tax law changes have made the professional circuit far less appealing. Starting in 2026, professional gamblers can only deduct up to 90 percent of their losses against winnings.

Seidel told CNBC this is enough to make him cut down to just a quarter of the tournaments he used to play. He is not alone, either. Russ Fox, a tax expert who works with gamblers, says the margins are so thin now that several pros are walking away.

“For most professionals, the 90 percent loss limitation is going to have a major impact.”