Pros:

• Easy to make unambiguous resolution criteria, for example it's easy to see who won in a race.

• People who get really good at it are stats wizards.

Cons:

• Match fixing (such as players betting on themselves).

• Highly accessible addiction building, like you just need an option about a locally popular sport.

• Unless you go incredibly deep into it, minimal learning opportunities to learn through research compared to other market types.

• Tricking yourself into thinking you have a one-up on randomness.

Do state-specific bans count?

@ProjectVictory no has to be federal