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New York’s Sports Betting Windfall: $5.1 Billion in Losses, and Who Paid Them

New York’s Sports Betting Windfall: $5.1 Billion in Losses, and Who Paid Them

New York’s mobile sports betting tax is usually reported as a win for the state and its schools. Two numbers rarely appear alongside it: what bettors lost to produce that revenue, and whether schools actually receive more money because of it. The first can be calculated directly from the tax rate. For the widely cited $2.6 billion in tax revenue,...

Two Standards, One Border: The Vaccine Mandates That Stopped at the Rio Grande and at the Sanctuary State Line

Two Standards, One Border: The Vaccine Mandates That Stopped at the Rio Grande  and at the Sanctuary State Line

For years, federal and state governments made jobs, military service, hospital work and school enrollment depend on vaccination. Those standards were never applied at the same strength to people entering between ports of entry, or to the jurisdictions that shelter them. Measles is now at a 35-year high, largely for reasons unrelated to the border. In the fall of 2021,...

Scales of justice holding a gavel and tax forms between a prediction market screen asking about a rate decision and an interest rate futures chart, with the U.S. Capitol behind.

Rate Bets That Settle Like Futures and the Three Different Regulators Watching Them

Intro On Sept. 16, the Federal Open Market Committee raised its policy rate a quarter point. The decision, approved unanimously 12-0, brought the target range to 3.75%–4% and marked the first hike since July 2023. Updated projections showed a strong majority of officials expect another increase before year-end. Two weeks earlier, that outcome was not the consensus. On Aug. 15, a contract...

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