Texas Sen. Looks To Legalize, Regulate Daily Fantasy Sports

Law360, New York (March 13, 2017, 4:09 PM EDT) -- A new bill introduced in Texas' Senate on Friday would legalize and regulate daily fantasy sports, possibly paving the way for a resolution to a contentious relationship between state officials and industry giants over questions of whether the practice constitutes illegal gambling.

Introduced by Sen. Lois Kolkhorst, R-Brenham, SB 1970 would give the green light to DFS events orchestrated by companies like DraftKings, in which players pay money to play, and the host takes a cut. 

The legislation comes as DraftKings Inc. is embroiled in litigation in Texas state court over an advisory opinion released in January 2016 by Texas Attorney...

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