California sports betting measures fail
The defeat of two propositions in California keeps the largest market in America closed to legal sports betting. The measures would have allowed gambling companies to bring in billions of dollars in revenue. It was the most expensive ballot measure fight in U.S. history, with the various factions supporting and opposing the propositions spending roughly $450 million. After Labor Day, the campaigns supporting both initiatives largely folded their cards. The executives of the top sports books signaled that legalization would likely have to wait until 2024.
