Supreme Court strikes down federal sports betting ban, paving way for NJ and other states

  • 05/14/2018
  • Source: CNBC
  • by: Michael Sheetz

[Supreme Court rules for New Jersey in sports betting case]
Supreme Court rules for New Jersey in sports betting case   8 Mins Ago | 00:55The U.S. Supreme Court will allow more states to legalize sports betting, breaking up Nevada's monopoly on the practice, according to a ruling Monday.

The court upheld the legality of a 2014 state law permitting sports betting at New Jersey casinos and horse racetracks and voided the federal Professional and Amateur Sports Protection Act. Some states see sports betting, like lotteries, as a potentially important source of tax revenue.

The Supreme Court justices struck down the entire federal law on a 6-3 vote.
 Source: CNBC
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