“There are federal tax benefits for racehorses (although there’s a chance they might soon expire) and some states exempt racehorses from their sales taxes. Other states own the racetracks.”
…
“”The obvious solution here is also the simplest: Just stop,” Shachtman wrote. “Let the sport stand on its own and dwindle to whatever size its fan base supports. Instead, state legislatures keep funneling money to it.””
https://reason.com/2025/04/29/stop-subsidizing-the-sport-of-kings