While daily fantasy sports (DFS) sites DraftKings and FanDuel are hanging on to their hundreds of thousands of paying New York state customers by a legal thread, the high-profile operations are coming under scrutiny in the Central time zone, with the Illinois attorney general opining that DFS sites constitute illegal gambling under state law. [More]
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FBI Investigating Business Model Of DraftKings, FanDuel
By 10.15.15
Daily fantasy sports sites like DraftKings and FanDuel operate under a “games of skill” exemption to a federal law that prohibits banks from transferring money to most online gambling operations. But the Department of Justice is reportedly taking a closer look at how these companies actually work to see if their business models cross a legal line. [More]
