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States tax sports betting heavily, but gamblers may barely feel it

Sports betting has grown explosively since 2018, when a U.S.

By Phys.org Science News•Nov 6, 2026, 05:20 PM UTC•1 min read

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States tax sports betting heavily, but gamblers may barely feel it

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Primary Wire Report: Sports betting has grown explosively since 2018, when a U.S.
Desk & Verification: Normalized under Wall Street & Financial Markets desk via Phys.org Science News.
Classification Status: DEVELOPING wire dispatches verified against institutional sources.

Sports betting has grown explosively since 2018, when a U.S. Supreme Court ruling struck down a federal ban on it. Now, Americans wager more than $165 billion on sports annually, contributing to an industry larger than state-run lotteries even excluding prediction markets such as Kalshi and Polymarket.

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