Judge Upholds Ban on Sports Gambling in New Jersey

Credit: Yellow Dog Productions/Getty Images(TRENTON, N.J.) — A U.S. District Court judge on Friday ruled that New Jersey can not partially eliminate a ban on sports gambling.

Federal law makes sports betting illegal in New Jersey and most other states. New Jersey had hoped to legalize sports betting, but had no intention of licensing or regulating the gambling. The National Football League and other sports organizations had sued to block the legalization of gambling, Bloomberg News says.

Four of the 12 casinos in Atlantic City have shut down in 2014, and Gov. Chris Christie had hoped to boost the state’s economy by allowing sports betting at ractracks and casinos.

The New York Times reports that the state is expected to appeal the ruling.





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Inflation expected to have cooled slightly in April

Bloomberg Creative/Getty Images (WASHINGTON) — The White House and Wall Street will closely watch Wednesday’s inflation report for any signs that the Federal Reserve’s aggressive cooldown efforts are working. After falling dramatically over the course of last