Is congress ready to regulate racing?
I’ve followed the decline of horse racing for years, and it is clear to me that a poor system of governance is part of the problem. The sport has a dim future and competing factions with sharply opposed short term interests. This limits the potential for self-generated governance. But it is not clear what the solution is. A national regulatory authority was proposed at yesterday’s Congressional hearing on horse racing. But patchwork state regulation has also been an enormous burden on the industry, literally choking the life out of it and short circuiting the potential for adaptation and change.
This is a tough problem. But it’s one with plenty of talking points, so I expect yesterday’s hearing won’t be the last.