Democrats such as Elizabeth Warren had their eye on business and the working class during the first 2020 presidential primary debate in Miami.2020 Electionsread more
Huawei's legal chief told CNBC that the company makes "solutions for civil use."Technologyread more
The issue over health insurance marked the first stark divide among the candidates, and sparked a heated back-and-forth between many of the candidates on stage.Politicsread more
Four candidates mentioned China — but none of the Democratic contenders brought up trade in the debate.Politicsread more
In a strategy to draw attention away from Wednesday's Democratic debate, President Donald Trump's reelection campaign bought out YouTube's "masthead," the leading...2020 Electionsread more
The Federal Aviation Administration said on Wednesday that is has found an issue with the Boeing 737 Max that the manufacturer must address before it lifts the grounding...Airlinesread more
The collapse of the deal potentially ended Sinclair's hopes of building a national conservative-leaning TV powerhouse that might have rivaled Fox News.Mediaread more
Huawei legal chief Song Liuping told CNBC that the company is in the "early phase" of talks with Verizon over paying royalties.Technologyread more
Virginia Sen. Mark Warner breaks down the idea behind a bipartisan bill he introduced to provide more transparency in Big Tech.Technologyread more
U.S. President Donald Trump on Thursday asked India to withdraw retaliatory tariffs that New Delhi imposed this month, calling the duties "unacceptable."World Economyread more
Wi-Fi 6 will be the next-generation wireless standard. Along with 5G, it will represent the next big shift in connectivity and data, said Irving Tan, senior vice president and...Shaping the futureread more
For years, the state of Nevada has basically cornered the market on legal sports gambling in America. To legally make a bet on a sporting event, you still have to physically enter one of the many licensed sports book establishments in the state, (it's also legal in very limited ways and areas in Oregon, Delaware and Montana). The bad news is the in-state requirement has discouraged millions of bettors from doing their business in Nevada. The big question has always been: how can Nevada get that money into the state legally? And there's also been a smaller question asking how the best sports books can expand their businesses beyond the state.
Two bills just passed and signed into law in Carson City have finally provided the answer in a very Wall Street-style way. Senate Bill 443 allows out-of-state businesses and investment groups to put their money in funds managed by or on behalf of sports handicappers who legally make bets in person in Nevada. According to the bill, the business entity must be registered with the Nevada Secretary of State and keep an account with a Nevada bank.
To put it more simply, now investors have the power to put their money into a fund that invests in the betting prowess of the best handicappers in Vegas. This could bring in billions of dollars into Nevada that has been kept out of the state and pushed into the hands of illegal sports betting operations for years. And better than that, it could attract major hedge fund money into the arena.
But there's more. The second bill signed into law allows Nevada's sports books to branch out across the world. So in other words, you could soon be able to walk up to a branch office in Cleveland and place a wager on a baseball game that would officially be placed by someone else in Nevada. This second bill will require more co-operation from those other localities. But if other states like New Jersey are successful in getting sports gambling legalized, the second law will allow the established sports books to capture a lot of that new business. Think of it like the way Merrill Lynch set up thousands of storefront brokerage offices across the country and started an investing revolution.
CNBC and Power Lunch will follow this story as it develops.