College sports have descended into chaos since 2021 when athletes gained the right to earn money through endorsement deals, sparking a $10-50 million annual spending arms race among programs. Now Congress is stepping in with the Protect College Sports Act, which passed the Senate 77-22 this week with overwhelming bipartisan support—a historic first for federal regulation of an entire sport. Stewart Mandel of The Athletic explains how NIL deals morphed from benign endorsements into a wild marketplace where boosters bankroll players to transfer schools, and why lawmakers are attempting to restore order. College athletes can now transfer unlimited times and earn multimillion-dollar NIL deals from wealthy boosters, creating a completely unregulated marketplace unlike anything in professional sports.