Daily Fantasy Legalization Gains Speed But Hurdles Ahead

Law360, New York (August 23, 2016, 10:38 PM EDT) -- The embattled daily fantasy industry can breathe a sigh of relief as several states, most notably New York, have legalized the contests amid questions over whether they constituted illegal gambling. But as the industry moves into state-by-state regulation, some experts warn the companies aren't out of the woods yet.

Facing a deadline under a deal with New York Attorney General Eric Schneiderman to halt his enforcement lawsuits alleging daily fantasy sports, or DFS, is illegal gambling, New York lawmakers stepped in at the 11th hour to legalize the contests in the state. Earlier this month, Gov. Andrew Cuomo signed the new legislation,...

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