New York Attorney General Eric Schneiderman yesterday ordered DraftKings and FanDuel to "stop accepting bets from New York residents, saying their games constitute illegal gambling under state law." The order is a "major blow to a multibillion-dollar industry that introduced sports betting to legions" of fans. Schneiderman said, "It is clear that DraftKings and FanDuel are the leaders of a massive, multibillion-dollar scheme intended to evade the law and fleece sports fans." The two companies "can challenge the attorney general's order in court" (N.Y. TIMES, 11/11).
This marks the "first time fantasy-sports operators have been formally accused of criminal activity." Schneiderman "gave the companies five days to respond" (WALL STREET JOURNAL, 11/11).
The N.Y. Times story appears on the front page with the header, "Attorney General Tells DraftKings and FanDuel to Stop Taking Entries in New York." The Wall Street Journal piece, also on A1, has the header, "New York Orders Daily Fantasy-Sports Companies FanDuel, DraftKings to Cease Operations" (THE DAILY).
CBS’ Vladimir Duthiers said the ruling by New York state “could further implicate major sports which have both anti-gambling policies and investments in daily fantasy sports” (“CBS This Morning,” 11/11). NBC’s Savannah Guthrie said, “All bets are off.” Guthrie wondered if his marks the “beginning of the end for an industry already with tens of millions of players and growing every day” (“Today,” NBC, 11/11).
