California Voters leaning towards Sports Betting Legalization
iBET ETF Insights: A recent poll showed that 45% of voters would support legalization, with 33% who are opposed, and 22% of people who are undecided on the matter. The effort to legalize sports betting in California has been in the works since 2018, when the Supreme Court amended the federal law that banned all states but Nevada from sports betting. Four years later and the industry has evolved with more than 30 states legalizing sports betting, including all of those who border California. Californians should be able to vote in November to make the change to legalize sports betting. New York State legalized recently and did over 2 Billion in handles in the first month, California should do a much larger number.