Law and Sports

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Federal law generally prohibits gambling on sports, with exceptions in four states and for certain “games of skill.”  The state of New Jersey has challenged the limit on its authority to legalize sports betting. In the past year, sports betting websites exploded upon the airways in multi-million dollar television advertising campaigns led by daily fantasy sports (DFS) companies inviting fans “to pay an entry fee, pick their own teams in daily leagues, and win real money, with over millions paid out in these online contests.” Big winners of these contests were revealed to be employees and professional gamblers. Big investors in DFS companies are the professional leagues and networks as partners. States and Congress are threatening to shut down these lucrative ventures. Rival companies who control nearly 95% of the DFS market propose to merge. Our panel of experts will debate whether Congress or state regulation protects consumers or stifles them and innovation in the wildly popular world of virtual sports.