News & Analysis as of

Fantasy Sports

Horseracing-based Fantasy Sports Game Found Illegal

In a follow up to a lawsuit we previously reported on, a California District Court ruled on summary judgment that a horseracing-based fantasy sports game constitutes illegal wagering....more

Vermont Passes Fantasy Sports Legislation

by Klein Moynihan Turco LLP on

Vermont’s State Legislature has passed legislation that would expressly legalize and regulate fantasy sports contests and their operators within the State. If enacted, Vermont would become the third state this year to adopt...more

Insight: Patchwork of Daily Fantasy Sports Regulations Will Increase Costs and Frustrations for Emerging Industry

by Stinson Leonard Street on

Arkansas has become the most recent state to enact legislation aimed at regulating the Daily Fantasy Sports marketplace. Daily Fantasy Sports, or more commonly known as DFS, is a form of online entertainment where users play...more

Fantasy Golf: A Hole in One

by Ifrah PLLC on

The Masters golf tournament had quite an exciting finish this year and it also was a successful tournament for Daily Fantasy Sports (DFS) operators. As reported by Dustin Gouker: “The Masters marked the unofficial start to...more

Arkansas Legalizes Fantasy Sports

by Klein Moynihan Turco LLP on

Arkansas Governor Asa Hutchinson signed into law a bill that legalizes and regulates fantasy sports contests and their operators within the State. The enactment makes Arkansas the eleventh such state to fully sanction the...more

New Jersey Fantasy Sports Regulations Coming Soon?

by Klein Moynihan Turco LLP on

The New Jersey Assembly’s Appropriations Committee has passed a bill aimed at establishing fantasy sports regulations to govern fantasy sports contests and their operators within the State. Passage of the proposal in the...more

Georgia Weekly Legislative Update - March 2017 #3

by Dentons on

In passing its own version of the state’s 2018 spending blueprint, the Senate moved one step closer last week to satisfying the General Assembly’s lone constitutional obligation....more

Mississippi Enacts Fantasy Sports Legislation

by Klein Moynihan Turco LLP on

Mississippi became the first state to enact fantasy sports legislation in 2017 when Governor Phil Bryant signed HB 967 into law last week. The law is set to go into effect on July 1, 2017, though the State will start...more

NC Legislative Update - March 2017 #2

by Nexsen Pruet, PLLC on

This Week - Final arguments were heard Tuesday for litigation brought by Gov. Cooper (D) over the legality of legislation passed late last year creating the Bipartisan State Board of Elections & Ethics Enforcement...more

Texas Lawmaker Introduces Fantasy Sports Bill; Fantasy Sports Lawyers Scrutinize the Details

by Klein Moynihan Turco LLP on

A State Senator in Texas recently introduced a new bill that would legalize fantasy sports contests and implement regulations governing their operation. Fantasy sports lawyers understand that stakes for this bill are high as...more

Mississippi Advances Fantasy Sports Regulations

by Klein Moynihan Turco LLP on

The Mississippi State House of Representatives recently passed a bill that would implement fantasy sports regulations. The bill will now head to the State Senate for debate and a vote on the measure. What are some of...more

Super Bowl 51: What to Do When the Fantasy is Over and Football Fever Becomes a Work Reality?

Super Bowl 51 is just around the corner, and many of your employees probably already have football fever. According to a January 2016 study conducted by the Workforce Institute at Kronos, 77 percent of American workers...more

Place Your Bets: Will the Trump Administration Support New Jersey’s Push to Expand Sports Gambling?

by Goodwin on

New Jersey’s years-long battle to allow sports gambling received a significant boost from the U.S. Supreme Court last week, which issued an order inviting the Solicitor General to file a brief in the case (known to Court...more

Super Bowl Office Betting – Does it Cross the Line?

by Gray Reed & McGraw on

Riding her beloved Packers late-game win against the Dallas Cowboys, Allfer Funn, owner of Con Genial, is polishing her cheese head hat and dusting off her Super Bowl Squares Pool from last year in anticipation of the Big...more

Florida Fantasy Sports Regulations Coming Soon?

by Klein Moynihan Turco LLP on

This week a Florida State Senator introduced proposed revisions to the State’s gaming laws intended to, among other things, regulate fantasy sports within the State of Florida. The bill proposes enacting the Fantasy Contest...more

States Act to Regulate Fantasy Sports

by Reed Smith on

In attempts to lessen the uncertainty that still surrounds the legality of fantasy sports, Maryland and Florida introduced measures to clarify the rules of the road for the likes of DraftKings Inc. and FanDuel Inc. Maryland’s...more

The Only Color in Gambling is Green—Why Staking is a Security

by Burr & Forman on

The Securities Act of 1933’s catchall for defining a security is the “investment contract.” The landmark case, SEC v Howey, explained that “an investment contract for the purposes of the Securities Act means a contract,...more

Maryland Fantasy Sports Regulations Take Effect

by Klein Moynihan Turco LLP on

This week, regulations governing fantasy sports contests in the State of Maryland went into effect. The regulations, implemented pursuant to a 2012 law exempting fantasy sports from the State’s gambling prohibition, vest the...more

Fantasy Sports Bill Introduced in Ohio

by Klein Moynihan Turco LLP on

A fantasy sports bill has been introduced in Ohio pursuant to which the State’s gaming laws would be amended to provide the Ohio Casino Control Commission (the “Commission”) with the authority to regulate fantasy sports...more

Illinois’ New Anti-Fantasy Sports Bill and the Need for Fantasy Sports Lawyers

by Klein Moynihan Turco LLP on

A bill introduced to the Illinois House of Representatives, designed to criminalize fantasy sports, has been assigned to the Executive Committee for further review and analysis. The move advances the bill one step closer to...more

Intellectual Property Bulletin - Fall 2016

by Fenwick & West LLP on

Mean Girls v. The Right of Publicity: Lessons Learned From the Lohan and Gravano Lawsuits - On September 1, 2016, a New York appellate court ended two closely watched right of publicity lawsuits brought by Lindsay...more

FanDuel, DraftKings Settle Fantasy Sports Lawsuit with New York AG

by Klein Moynihan Turco LLP on

This week, the office of the New York Attorney General (the “AG”) announced that it had reached a settlement with both FanDuel and DraftKings, resolving the State’s deceptive marketing practices lawsuit. We had previously...more

Employee Sports Gambling: Workplace Policies and Guidance For In-House Counsel

Sports fans have long looked for ways to be a part of the action. The co-owner of the Oakland Raiders developed a fantasy golf game back in the 1950s. In the 1980s, journalist Daniel Okrent created “Rotisserie” League...more

And the dream lives on: DraftKings and FanDuel Settle Remaining False Advertising Claims with New York AG

by Reed Smith on

In June, we covered Daily Fantasy Sports (“DFS”) operators’ major legislative victory in New York: a bill legalizing and regulating their business, ending the potential for an outright prohibition on DFS in the state. That...more

Fantasy Stock Picking Contest Deemed by SEC to be Illegal Security-based Swaps

The SEC shut down a “fantasy” stock picking game for allegedly violating securities laws. Forcerank LLC ran contests via mobile phone games where players paid a fee and predicted the order in which 10 securities would perform...more

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