This SportTechie Legal article was written by Ryan Martin, an attorney based in the Chicago office of Loeb & Loeb LLP.
More than six months ago, the United States Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA), the federal law that prohibited states from permitting sports betting. Since then, state legislatures and gaming agencies have been busy establishing regulatory frameworks to legitimize the sports betting market, whose illegal industry is estimated to be valued at $150 to $400 billion.
Delaware, Connecticut, Mississippi, New Jersey, New Mexico, Pennsylvania, Rhode Island, and West Virginia have legalized some form of sports betting so far in 2018.