NAIA Passes Name, Image, and Likeness Legislation
As college athletics awaits the NCAA’s proposed modifications to its name, image, and likeness legislation, the NAIA has become the first intercollegiate athletics governing body to pass legislation permitting athletes compensation for the use of their name, image, and likeness. […]
IRS States That DFS Operators Are Liable For Excise Tax
A recent IRS Internal Memorandum has ruled that DFS operators must pay federal excise taxes on entry fees, a viewpoint that, if enforced, could have widespread effects on the fantasy industry.
Five Things to Consider Before Starting Your DFS Company
Have a great idea for the next big thing in fantasy sports? There are a few things you should know before diving in head-first.
The Repeal of PASPA
On Monday the Supreme Court struck down the Professional and Amateur Sports Protection Act of 1992 (“PASPA”), the federal ban on sports betting. In a 6-3 ruling, SCOTUS held that PASPA unconstitutionally commandeers state legislatures by dictating what they “may […]
New Jersey DFS Update
New Jersey became the 16th state to enact fantasy sports legislation when Governor Chris Christie approved bill A3532 on Thursday. The law contains standard tax and regulatory provisions. The 10.5% tax on gross revenue will generate huge profits for the […]
Maine is Latest State to Legalize Daily Fantasy Sports
Maine On August 2nd, Maine joined four other states to become the fifth this year to legalize daily fantasy sports. Fifteen states currently have DFS laws on the books that allow for legal play. Maine’s victory was narrowly won—Governor Paul […]
DFS Legislative Development Summary: Clarification of Legal Status Opens Doors for Daily Contests, but Regulations Set Roadblocks for Smaller Operators
With opinions from attorney generals and legislative developments arriving daily, staying on top of the shifting legal environments of every state can be a chore for any fantasy sports operator. But when you’re trying to get your fantasy sports startup off […]
Massachusetts Attorney General Says Daily Fantasy Sports Legal; State Lotteries Emerge As Potential New Rival
After reviewing the legal status of daily fantasy sports, Massachusetts Attorney General Maura Healey announced last week that no federal or state laws prohibit daily fantasy sports in Massachusetts. Although Healey’s office has not yet released a formal opinion, fantasy […]
Why Playing Fantasy Sports Is Legal (For The Most Part) Part II
Previously, I wrote Why Playing Fantasy Sports is Legal (For the Most Part), about the legality of gambling in Fantasy Sports Leagues. Given the considerable growth of this industry over the past few years and the number of new entrants and innovators looking […]
Why Playing Fantasy Sports Is Legal (For The Most Part)
You’ve certainly seen or heard about them, and you may even participate in a few yourself. With tens of millions of participants per season, Fantasy Sports Leagues are a billion-dollar industry that are slowly becoming an American obsession. Most recently, […]