The U.S. Supreme Court struck down the federal law that bars gambling on individual sporting events in most of the country in a ruling likely to unleash a race among the states to attract billions of dollars in legal wagers.
Ruling in a New Jersey case, the court said the 1992 law unconstitutionally forced states to maintain laws that outlaw gambling. Nevada is the only state where single-game wagering is now legal.
Sports gambling could begin in a matter of weeks in casinos and racetracks in New Jersey, which instigated the legal fight by repealing its gambling prohibition.
This article was provided by Bloomberg News.