Last Wednesday, Gov. Cuomo signed a bill legalizing interactive fantasy sports in New York State. The new law requires that fantasy sports companies to register with and operate under regulations to be issued by the state Gaming Commission.
Last year, state Attorney General Eric Schneiderman filed a lawsuit against the two largest daily fantasy sports (DFS) companies operating the state, saying that they were operating in violation of the state’s gambling prohibitions. FanDuel and DraftKings, the two largest DFS operators, suspended their operations in New York and lobbied for the passage legislation to permit DFS.
Gov. Cuomo said:
“Daily fantasy sports have proven to be popular in New York, but until now have operated with no supervision and no protections for players. This legislation strikes the right balance that allows this activity to continue with oversight from state regulators, new consumer protections, and more funding for education.”