Sports Betting Proposition Most Expensive in History

What is happening? Prop 27 in California would legalize sports betting. Thus far $400 million have been spent in support of Prop 27 making it the most expensive state constitutional proposition in U.S. history. Prop 27 has a rival proposition, Prop 26 that would permitRecord spending over California’s legal gambling initiative sporting events in person at retail locations — casinos operated by tribes and the state’s four licensed horse racing tracks.

Why is this important? We all thought a lot of money was spent by the gig economy to determine whether gig workers are employees or independent contractors in California, but that $200 million pales in comparison.

How will this be important? The interested parties for the proposition are: wealthy Native American tribes, online gambling companies, and less-affluent tribes. At stake: a multibillion-dollar marketplace.

AP | Record spending over California’s legal gambling initiative