The fast-growing, multi-billion dollar fantasy sports industry, which is dominated by DraftKings and FanDuel, has come under scrutiny and was declared illegal in Texas yesterday, marking the latest US state to challenge the legality of such online contests. Online operators' claims that they can "operate as an unregulated house" do not "square with existing Texas law", said Texas Attorney General Ken Paxton. Texas, with its $1.6tn economy, is a significant market for daily fantasy companies, which charge customers to take part in mostly single-day games in which they draft a roster of players whose performance on the field earn points. The games are now illegal in Iowa, Arizona, Louisiana, Montana and Washington.
The fast-growing, multi-billion dollar fantasy sports industry, which is dominated by DraftKings and FanDuel, has come under scrutiny and was declared illegal in Texas yesterday, marking the latest US state to challenge the legality of such online contests. Online operators' claims that they can "operate as an unregulated house" do not "square with existing Texas law", said Texas Attorney General Ken Paxton. Texas, with its $1.6tn economy, is a significant market for daily fantasy companies, which charge customers to take part in mostly single-day games in which they draft a roster of players whose performance on the field earn points. The games are now illegal in Arizona, Iowa, Louisiana, Montana and Washington.