Missouri, Colorado Become Latest States To Legalize Practice Of Daily Fantasy Sports
Daily fantasy sports "can continue in Missouri but will be regulated under a measure signed Friday by Gov. Jay Nixon, making the state one of the latest to legalize the practice," according to Summer Ballentine of the AP. When the new law "takes effect in August, the state Gaming Commission will have oversight" of DFS. Companies like DraftKings and FanDuel will "need to pay an annual operation fee" of 11.5% of net revenues from state participants to operate in Missouri, as well as an annual licensing fee of $10,000 or 10% of revenue, whichever is lower. Money from the fee will "go toward education." National Conference of State Legislatures Policy Associate Jake Lestock said that Missouri is "now one of seven states to enact legislation to legalize" DFS. Colorado Gov. John Hickenlooper also "signed a bill Friday to legalize the games." But Lestock added that attorneys general in 11 states have said that the games "are illegal." However, legislators in two of those states -- Mississippi and Tennessee -- "passed laws to legalize them" (AP, 6/10).