Part 2/14:

In October 2006, President George W. Bush signed the Unlawful Internet Gambling Enforcement Act (UIGEA), heralded as a measure to combat online gambling’s perceived dangers. This legislation targeted financial institutions to block transactions with illegal gambling sites, aiming to curb the vice before it gained momentum in the digital age. Yet, amidst its intentions, the law contained a critical loophole: it exempted “participation in fantasy or simulation sports”—a seemingly harmless category. This exemption, based on the assumption that outcomes reflected skill rather than chance, inadvertently set the stage for an unprecedented explosion in online sports-related betting.