From northjersey.com a debate is going on about the legality of exchange wagering. Interesting debate legally, but there are many ways of reading the Federal law, and if the state legislatures have the will, they may just find a way.
“We’re not going to back down — we’re going to move forward and make sure that the horse racing industry survives and that Atlantic City gets a boost as well,” Lesniak said.
But Barbara DeMarco, a lobbyist for the state’s thoroughbred horsemen, said the group has received a legal opinion that exchange wagering is legal. She added that California signed an exchange wagering bill into law earlier this year, with the betting to begin in 2012, “so the precedent has already been set.”
For the rest of the article: http://www.northjersey.com/news/_Legality_of_exchange_wagering_debated.html