Explain the Racing Trust and how they control horse racing?

"There was the gigantic Racing Trust. It owned the legislatures in every state in which it did business; it even owned some of the big newspapers, and made public opinion—there was no power in the land that could oppose it unless, perhaps, it were the Poolroom Trust. It built magnificent racing parks all over the country, and by means of enormous purses it lured the people to come, and then it organized a gigantic shell game, whereby it plundered them of hundreds of millions of dollars every year. Horse racing had once been a sport, but nowadays it was a business; a horse could be “doped” and doctored, undertrained or overtrained; it could be made to fall at any moment—or its gait could be broken by lashing it with the whip, which all the spectators would take to be a desperate effort to keep it in the lead."