TBA Law Blog

Posted by: Amelia Ferrell Knisely on Oct 6, 2015

DraftKings and FanDuel, two major fantasy sports companies in which players assemble fantasy teams with real athletes, are defending themselves against allegations of insider trading, The New York Times reports. The unregulated businesses are now being questioned about who has access to valuable data and how it is protected after employees of both companies won jackpots playing at each other’s fantasy sites. “The single greatest threat to the daily fantasy sports industry is the misuse of insider information,” Daniel Wallach, a sports and gambling attorney, said. “It could imperil this nascent industry unless real, immediate and meaningful safeguards are put in place.”