DraftKings And Fan Duel To Stop Taking Paid Bets In NYS
New York State Attorney General Eric Schneiderman says daily fantasy sports companies DraftKings and Fan Duel have agreed to stop doing business in New York.
Schneiderman says the daily fantasy sports leagues that the companies offered were based on luck, not skill, and therefore under New York law, are gambling.
“Daily fantasy sports operators are free to go to the legislature or governor if they want to change the law, but my job is to enforce the laws of the state of New York," Schneiderman said.
Under the agreement, any bets on the books will be honored, but no new bets will be accepted. The agreement also provides an expedited path to resume business if the legislature changes the law or if a judge rules in the companies’ favor.
Schneiderman first issued a “cease and desist” order to DraftKings and Fan Duel last November. The two companies have been fighting in court since then. He says this agreement has no effect on the consumer fraud and false advertising actions against the companies.