Dogfights are illegal because it is cruel to let the dogs fight to death. It's s.th. different when events happen anyways and you just place bets on them.

That supposes that the events are decoupled from the bets, when we've already had several cases of people possibly betting on things they either have control over, or have insider info on.

Plus, all of the reports of people being bet on receiving threats.

It's like we've forgotten all about why gambling is so heavily regulated in most of the world. It always metastizes into a cancer upon society unless very carefully and strictly confined away.