News Summary

• Sports betting is legal in 39 states and D.C., and states can get billions of dollars in tax revenue from it.
• In Colorado, some lawmakers are trying to enact one of the most ambitious reforms to sports betting in the nation.
• Lawmakers want to protect the public from gambling addiction but also benefit from the industry's tax revenue.
• It's a tension between not wanting to harm people but states themselves almost getting addicted to the money it brings in.
• The tax money is largely dependent on people losing their bets, increasing revenues for the sportsbooks.