In a landmark decision that will forever alter the American sports landscape, the U.S. Supreme Court struck down a federal law prohibiting sports betting on Monday, opening the door for states to legalize and regulate a billion-dollar industry which, for years, has thrived illegally offshore.

The Professional and Amateur Sports Protection Act of 1992 banned states, outside of Nevada, from wagering on single-game sporting events. The state of New Jersey has challenged that federal law in court since 2011, when voters in the state amended the state constitution to allow gambling on sports. But those efforts fell short on numerous occasions, as the professional sports leagues and the NCAA mounted a powerful defense of PASPA.