Whether sports betting will have a net positive effect on the sports industry and society as a whole is a topic of debate, but one thing's for sure: The industry has solidified itself as a major force, and DraftKings (NASDAQ: DKNG) is one of its main players. As of the end of 2024, 38 states and Washington, D.C., had legalized sports betting in some form. Since the U.S. Supreme Court allowed states to self-regulate sports betting in May 2018, they have slowly but surely begun legalizing and making billions from the industry.