A hearing is reportedly scheduled for the 11th of May with the Subcommittee on Commerce, Manufacturing, and Trade to take a look at the daily fantasy sports industry of the United States. ESPN first reported the news after learning of the hearing from a senior staff member of Energy and Commerce.
The committee will be discussing the daily fantasy sports industry and its legality within the United States as well as online gaming and sports betting. Consumer protections will be discussed, with the hearing scheduled after a request by Frank Pallone, a Representative of New Jersey, was made.
The focus of the hearing will be on the action by individual states in regards to the DFS industry and if there is a need for federal involvement. Several states like New York and Alabama have ruled the activity illegal gambling while other states such as Missouri have moved forward with legislation to regulate the industry within state borders.
It was just last week that Luther Strange, the Attorney General of Alabama, sent out cease and desist orders to FanDuel and DraftKings, giving the DFS companies until the 1st of May to stop their services within the state. Also this month, the state of Missouri passed legislation within the House that would regulate the DFS industry. The Missouri legislation would require annual fees from DFS operators as well as ban employees from taking part in contests if they have insider information.
For now, daily fantasy sports players will have to wait and see what happens during the May hearing. Will the federal government become involved or will individual states continue to make their own rulings in regards to the industry, either leaving it alone, calling the activity illegal gambling or creating legislation to regulate the industry? Only time will tell what the outcome will be.
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