you're right and it's the oldest problem in this country. federal gets the headlines, states keep the machines and the revenue
what'll actually happen from january is the money moves. it doesn't stop being spent, it goes into affiliates, into search, into the stuff that doesn't look like advertising. i'd expect a lot of new "tipping" content that's technically editorial
that's not me defending anything by the way. it's just where budgets go when a channel closes