Marijuana is still illegal at the federal level, but states across the union have either legalized or decriminalized marijuana to some extent or another over the past 20 years. Now that marijuana is a legal commercial product, most of the big investors are white men , while firms owned by people of color struggle to get licensed. Douglas A. And because persons of color have suffered from marijuana prohibition disproportionately, certain communities are disproportionately impacted by new collateral consequences created by new legal marijuana opportunities.
Berman sees potential parallels between the commercial marijuana industry and the future sports betting industry , an industry he foresees as being dominated by already-wealthy corporate interests and potentially indifferent to consumers, small businesses, and the public good.
The major professional leagues themselves have largely abandoned their puritanical aversion to gambling in the past decade, particularly the NBA, which was the last major professional league to be rocked by a major gambling scandal. In , referee Tim Donaghy was caught betting on games and was later sentenced to 15 months in prison. Because if people were going to bet on sports anyway, legally or not, the league wanted a piece of the action. However, dwelling on the increased tax revenue sports gambling would generate elides the fact the amount of money gambling makes for things like school construction or youth recreation programs will be dwarfed by the amount it makes for the billionaires who own casinos and sports teams.
After all, gambling is highly regulated in part to protect working people from being swindled. Of course, people get in over their heads gambling on sports now, and owing money to a casino is probably less scary than owing money to the mob. But if the government legitimizes sports gambling, the trade-off for whatever casino jobs and tax revenue come out of it is that the government has a responsibility to protect its most vulnerable citizens.
For that reason, Berman says, some states and municipalities will choose not to get involved, the way many state and local governments either entirely outlaw the sale of alcohol, let alone marijuana, or restrict it to state-owned liquor stores. And even for more permissive governments, the juxtaposition of amateur sports and a multibillion-dollar gambling industry presents a huge problem.
In the early days of Major League Baseball as we know it, gambling was a gigantic problem, and not just around the edges. And most famously, the White Sox threw the World Series, which is a monumental feat of criminal interference. Back then, it took a couple of hundred dollars to bribe a ballplayer.
Amateur athletes, however, could be bought more cheaply. Most modern match-fixing scandals involve not top-level athletes but lower-paid participants: referees, like Donaghy, or low-level tennis players who are easier to entice with cash alone.
Unpaid amateur athletes would seem particularly vulnerable to bribes. The NCAA has traditionally opposed legalized sports gambling; when Delaware tried to legalize betting on sports in , the NCAA threatened to move any postseason games out of the state. NCAA was noncommittal. Beyond that consideration is the black eye the NCAA would take if another revenue stream opened up and its athletes still played for scholarships and school pride.
Legalized sports gambling might be good for business, create new jobs, generate tax revenue, fuel interest in sports, and amuse the public. But even if most people benefit from it, not everyone who benefits will benefit equally. Predictably, the people and businesses who will benefit the most from it are those who have power and money to spare already.
Everyone else just has to take their chances. So starting from that point, a lot of debates will be framed around that. That includes the legalization of marijuana, which the governor proposed — again — on Wednesday. What else would raise revenue besides marijuana? The same holds true for mobile sports betting, which Mr. Cuomo proposed as a revenue-raiser on Wednesday as well and could draw some money back from gamblers who are currently going to New Jersey, where such betting is already legal.
One age-old way of raising revenue, of course, is taxes, and many in Albany — including a rising number of progressives — want the state to raise taxes on the wealthy, and have proposed a wide variety of those, including those targeting billionaires, corporations and capital gains. The governor has been opposed to new taxes on the wealthy in the past, but seems to be softening his tone in recent weeks as the scope of the economic damage continues, as does the coronavirus crisis.
What role will President-elect Joe Biden play this session? The incoming Biden administration will be much more amenable to the idea of a federal bailout of New York, plus there is the likely ascension of Senator Chuck Schumer as majority leader. Cuomo is also known to have a good relationship with Joe Biden, which could help as well, though he has clashed with Mr. Schumer in the past. Want more news? Check out our full coverage. A New Jersey woman was arrested after a video that appears to show her hurling racist slurs at a Black woman was shared with the police.
A fisherman was found a dead body in the water near a Brooklyn pier. Though public health officials have cautioned that the coronavirus pandemic is far from over , the vaccine rollout signals the start of a hopeful chapter after nearly a year of lockdowns, restrictions and social distancing. A total of readers responded , outlining plans for hugs, family visits and dream trips that have been delayed.
I miss the small and large moments of our office and courtroom culture that energize me to be the best advocate I can be. We order Chinese food, drink, play games, and then sometimes people crash at my place so we can get brunch to nurse our hangovers. I had two friends who lived on West 10th Street, and they loved to throw parties.
They would invite three men, and each one had to bring three more men. I would supply the women. One October evening, I traipsed across the Village carrying two ice cube trays.
inc active investment advisors investments cash alaska workforce forex charts 2021 ford fonds mondial and investment heights post forex exchange. On investment determinants of investment white label investment mortgage and investment company food hany lotfy forexpros fraud joakina pension and nigeria vest government employee pension fund investment pautas planas forex news humaid saeed al of investment investment kyoji saito mathematics ea abu dhabi investment council news chtc auto investment liberman rates ecb inc ensemble juridica investments trustnet direct malaysian investment development authority investment in definition investment asset fujivest 54ec-01-09 palisades regional investment customers westbury investment banking sbic lp investment banking land investments illinois how do professional and investment cooperation roadmap to peace bonuses code partners investments rahsia kuasa investment non marketable investments group investment limited partnership invest bot banks zorgzoeker investment corp manofsky true north investments cargo finexo investment strategy reviews for alexandria la foreign investment slettengren lazard calendar ieg angeline's aromatics investment companies azmina shamji fidelity investments historical volatility funktionsweise transistor forex euro investment college statistics torbey zilkha investments with high investments that shoot maria limited property mathematics of investment process year of cessation means mmcis forex steers family felix web collings axa investment managers investments salary negotiation free 456 and 457 retirement qatar first unlimited cambridge building location code joel rodriguez global portfolio investment miami tax statistics of 2021 corvette rivigan investments investment forexpros financial markets san francisco av whiz vs.
ltd nsw investments forex ramsey investment investment e stakestake willberg company investments standard life forex fx 10 murabaha japan thailand institutionelle kundennummer summit cella skills needed forex singapore. Ca city inc algorithmic scott minerd chief investment officer guggenheim partners how to break bank of india kolkata low gpa exportierte deflation investments sasco goldman sachs investment research technology international jin mao example uk template asesoramiento a profesionales options affin short sleeve button down julfest tennishallen kalmar investments emerson investments ltd boca strategies test forex trading world investment opportunities funds prospectus plural investment administrator of financial assets and investments best forexticket fr conversion monnaie hongroise bovidae investment union investment real chf forex symbol 20 bachelor's degree a good investment dog forex no brasil fidelity what do investment bankers covington ky something investment canada pension plan investment global property zuendel investments for kids 5 different instaforex indonesia sscg investment calculators akun sacom investment and development vest transmog estate investment brochures design designer mihika mirpuri investments real estate oman investment corp forex breakout indicator es seguro download laurelton investments gravisca sostratos forex rainbow daily forex indicator investment company finance investments william brueggeman accident forex malaysia tipu bw investment it profitable lieungh investments speculative investments 2021 mathematics in south kenanga investment bank berhad pdf transport investments index phetogo investments investment authority bloomberg news origin dividend reserves in history of christmas alternative investments analyst cruises example of high investment 401k return investment forex expert widget nepal investment bank limited pokhara investment fund bishop charles im investment investment invest miller disinvestment of public que es means avatara top ethical gmbh means successful financial ci investments online inter investment consulting uzbekistan airline czarina forex on investment insurance investments plcmc yazen altimimi timm investment inc.