Temporary Fantasy Sports Permits Issued in NY
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DraftKings was presenting sponsor of 2015 Belmont Stakes
The New York State Gaming Commission Aug. 22 issued temporary permits to five interactive fantasy sports operators given a new state law that regulates the activity.
DraftKings, FanDuel, Yahoo, FantasyDraft, and Draft received temporary permits, the NYSGC said, so those companies can resume operations immediately in New York State. The regulatory agency said it has completed a legally required, thorough review of the temporary permit applications to ensure consumer protections, player safeguards, and advertising restrictions.
"As the newly enacted law requires, the commission regulates all aspects of interactive fantasy sports, including ensuring the operators put important consumer protections in place," NYSGC executive director Robert Williams said in a release. "While the commission continues work on formal regulations for these games, these temporary permits get companies up and running in New York State while assuring resident players that safeguards are in place."
The NYSGC said it continues to review permit application materials from additional operators that would like to do business in New York State. The new law bans fantasy sports contests from being offered on horse racing or collegiate sports.