The house always wins -- in this case, the state of California. New gaming regulations submitted by Attorney General Rob Bonta and approved by the Office of Administrative Law threaten to upend a multibillion dollar cardroom industry, causing mass layoffs and hundreds of millions in lost tax revenue.

There's no legal sports betting in California, though Super Bowl-sized loopholes -- in the form of new "prediction market" platforms -- are allowing anyone across America to wager on games anyway.