Fantasy Sports Sites Now Need A License In Nevada
Nevada regulators ordered daily fantasy sports sites like DraftKings and FanDuel to shut down Thursday, saying the hard-to-miss sites that have flooded the marketplace with TV and Internet ads cannot operate in the state without a gambling license.
The decision comes amid growing backlash by regulators and investigators after it was revealed employees often played on competing sites, raising questions about possible insider information being used to win. No daily fantasy sports sites are licensed in Nevada, but the sites can apply for licenses. Nevada regulators govern the country’s main gambling hub in Las Vegas, and their actions could hold sway with regulators elsewhere.