Major League Baseball is the only major U.S. professional sport without a salary cap. But with free agency moving at a glacial pace for the second straight offseason, there is growing concern among players that the league's "luxury tax" has morphed into one.
Be smart: Each season, clubs that exceed a predetermined threshold ($197 million last year, $206 million this year) must pay a "luxury tax" on each dollar spent above that threshold.
The Department of Justice announced the reversal of a 2011 opinion on the Wire Act on Monday, making the law applicable to all forms of gambling that cross state boundaries.
Why it matters: Online gaming and gambling has re-entered the mainstream since the Supreme Court's 2018 decision legalizing sports betting in the United States. The opinion could affect states such as Nevada, New Jersey, Pennsylvania and Delaware where online gambling is legal.
