The Supreme Court struck down a federal law prohibiting sports gambling Monday, giving the states a go-ahead to allow betting on sports.

In 2012, the NCAA and four major professional sports leagues sued New Jersey governor Chris Christie after he signed legislation allowing sports betting in the state. That law directly flew in the face of the 1992 Professional and Amateur Sports Protection Act (PASPA), which makes it unlawful for a state to “sponsor, operate, advertise, promote, license, or authorize by law” sports wagering. READ MORE>