Source: Unsplash

The Government of Canada is acting to decriminalize single event sport betting in Canada, the Department of Justice Canada announced.

Honourable David Lametti, Minister of Justice and Attorney General of Canada, announced the introduction of proposed legislative amendments that would permit provinces and territories to regulate and license single event sport betting on any sporting event except horse racing.

He added: "The federal government would maintain its role in overseeing pari-mutuel betting on horse racing. The proposed amendments would give provinces and territories the discretion to manage single event sport betting in their respective jurisdictions and offer Canadians an opportunity to place bets in a regulated environment either online or in physical facilities."

Publicly traded companies in the gambling space include Boyd Gaming (BYD), Caesars (CZR), Churchill Downs (CHDN), DraftKings (DKNG), Flutter Entertainment (PDYPY), Gan Limited (GAN), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn National (PENN), William Hill (WIMHY) and Wynn Resorts (WYNN).