Verizon Communications Inc. is considering entering the multibillion-dollar market for sports betting business, which could become legal in the U.S. before the year is out, according to people familiar with the matter. The New York-based phone giant, which last year bought Yahoo and its popular fantasy sports business, has been meeting with experts and consultants to assess the potential for a sports-focused online gambling venture if the laws in the U.S. change, said the people, who asked not to be identified discussing private information. The U.S. Supreme Court is expected to issue a decision early this year in a case…