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Supreme Court gives states green light on sports betting

The sports book at Caesars Palace in Las Vegas. Photo: George Rose / Getty

The U.S. Supreme Court struck down a federal anti-sports gambling law on Monday, ruling in favor of New Jersey to allow states to engage in legalized sports betting.

Why it matters: This ruling could have huge implications not only for casinos, but also for daily fantasy companies like DraftKings and FanDuel that have struggled with state regulations against sports betting.