/Daily Fantasy Sites' self-regulation may be too little too late

Daily Fantasy Sites' self-regulation may be too little too late

Credit: Matthew Emmons-USA TODAY Sports

Credit: Matthew Emmons-USA TODAY Sports

 

Daily fantasy sites are trying to self-regulate before the government does it for them. Seth Harris has been named head of the Fantasy Sports Control Agency, a non-governmental group looking to regulate and provide rules and guidelines for the fantasy sports industry. The move comes in response to calls to provide better transparency and regulation after the recent DraftKings/FanDuel alleged insider information episode.

The creation of an internal control agency is a good idea for the industry. It hopefully will help address the concerns brought to the forefront by recent events. The creation of this group is a response to some of DraftKings’ and FanDuel’s partners and investors, including Jerry Jones, Robert Kraft, the NBA, NHL and MLB asking for greater regulation and transparency. The new group will focus on providing checks and balances to DFS customers. It always makes sense for an industry to provide some form of control and regulation, but it may be too little too late.

DFS would obviously prefer self-regulation because it allows the industry to create the rules and governance from inside. The problem is the story got…

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