CA Lawmaker Pushes To Regulate Fantasy Sports Wagering
Sacramento, CA — A lawmaker from the nearby Central Valley says he wants California to lead the way and create a plan to regulate wagering on daily fantasy sports sites.
There has been a recent national discussion about the legality of rising companies like Fan Duel and Draft Kings. This week Democratic Assemblyman Adam Gray of Merced hosted an informational hearing at the state capitol entitled, “Overview of the Daily Fantasy Sports Industry – The Legality, Regulatory Oversight and Consumer Protections.”
Gray says, “In California, we have an opportunity to lead the way and to set the tone for how to balance consumer protections with consumer demand.” He goes on to add, “Daily fantasy sports betting is happening in California, whether we like it or not. This is an unregulated, billion dollar industry that should be subject to similar regulations faced by other gaming activities so as to ensure a safe environment for gambling.”
Gray is introducing legislation, AB 1437, which would create a framework to oversee the industry. It would license and regulate sports wagering, as well as internet poker, in California.