Not anymore, the US Supreme Court struck down the 1992 law prohibiting sports betting at a federal level [1]

Now, it’s up to each state to decide if and how they want to legalize it. New Jersey is actually the reason this went to the Supreme Court, and you can now take wagers within NJ if you have a physical operation in Atlantic City [2]

[1] https://www.supremecourt.gov/opinions/17pdf/16-476_dbfi.pdf

[2] https://www.nj.gov/lps/ge/sportsbetting.html

Edit: adding a link to the NJ sportsbetting rules

+1 to the comment below. Last May, the United States Supreme Court ruled 7-2 that a 25-year-old federal law that prohibited sports betting outside Nevada is unconstitutional - allowing states to pass their own laws either allowing or prohibiting betting on professional and college sports. Here's a link discussing this as well as new states that have opened up to sports betting: https://www.cincinnati.com/story/sports/2019/02/21/state-sta...

Great, but how does that impact you? How are you going to edge companies who are much larger than you, for the finite number of skins allowed in each state? What's your plan for working with the regulators, including the necessary amount of lobbying and retail adjacency you need?

Just saying "Well, we can eventually become a paid host of these games" isn't enough and you haven't done that; just because it's now legal in a singular state doesn't mean that just anyone will be able to get licensed and regulated.