To amend the Internal Revenue Code of 1986 to remove the income limitation on the exclusion from gross income of any medal or prize money won in competition in the Olympic Games or Paralympic Games.

Makes Olympic and Paralympic medals and prize money fully tax-exempt by removing the income cap on the existing exclusion. This bill would amend the Internal Revenue Code so the value of any medal awarded for competition in the Olympic Games or Paralympic Games and any prize money received from the United States Olympic Committee are not included in gross income. The change would apply to prizes and awards received after December 31, 2025, lowering the taxable income athletes must report for those awards.