The Risks and Rewards of the Supreme Court’s Sports Gambling Decision
May 17, 2018, 10:29 PM
As federal laws go, the Professional and Amateur Sports Protection Act (PASPA) never really hit the jackpot. Passed by Congress in 1992 to combat the supposed scourge of sports gambling, it effectively banned this vice in just about every state, while giving Nevada--the only one that sanctioned full sports gambling--a perpetual monopoly. During the nearly 26 years of the law's existence, legal sports gambling in Nevada rose 172%, from $1.8 billion per year to $4.