Betting on the Kentucky Derby is more popular than ever. So why is it so confusing?
By Catherina Gioino••Fortune
Americans bet a record $234 million on a two-minute race last year. Getting that money down legally remains hard, thanks to Kentucky's laws.
On the first Saturday of May, 150,000 people will pack into Churchill Downs in Louisville wearing their finest hats. Tens of millions more will watch from home. In 2025, 17.
7 million Americans tuned …