Sports betting is heavily regulated compared to other activities, says DraftKings CEO Robins

Gambling Tax Implications - The gambling industry faces potential tax issues due to law changes, possibly leading to tax payments even without actual earnings [1][2][3] - There's an effort to rectify the tax law through congressional members, aiming for a more sensible approach to deducting losses [2][3] Sports Betting Legalization & Market Expansion - The sports betting industry sees a large Total Addressable Market (TAM) with increasing legalization outside major states like California, Texas, and Florida [4][5] - The industry anticipates eventual legalization of sports betting in close to 50 states, including major markets like California and Texas [4][5]