An exchange-traded fund that tracks gaming and casino stocks rallied on Monday, turning sharply higher after the U.S. Supreme Court ruled in favor of New Jersey in a case that could open sports betting around the country. The VanEck Vectors Gaming ETF /zigman2/quotes/209424070/composite BJK +0.21% gained 1.6% and hit its highest level since February. In a 6-to-3 vote, the Supreme Court in Murphy vs. National Collegiate Athletic Association ruled the Professional and Amateur Sports Protection Act doesn't make sports gambling a federal crime. New Jersey has sought to legalize sports gambling schemes in Atlantic City and at horseracing tracks. Among specific stocks, MGM Resorts International /zigman2/quotes/209932643/composite MGM -0.30% rose 1.9% and Caesars Entertainment Corp. /zigman2/quotes/207192848/composite CZR +0.25% was up 5.7%. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.13% rose 0.6% on Monday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.03% rose 0.5% and the Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP -0.11% was up 0.7%.