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Wednesday, 06 January 2016 19:17

GRAY'S DAILY FANTASY SPORTS BILL ADVANCES

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GRAY'S DAILY FANTASY SPORTS BILL ADVANCES

SACRAMENTO – Today Assemblymember Adam C. Gray (D-Merced), Chair of the Assembly Governmental Organization Committee, advanced legislation to establish consumer protections for Californians who play Daily Fantasy Sports (DFS). AB 1437, which seeks to create a regulatory and licensing framework for DFS websites (i.e. Fan Duel, Yahoo, and Draft Kings), passed the Assembly Governmental Organization Committee on an 18-1 vote.

“The near unanimous support of the committee today sends a strong signal that protections for consumers and children online are a top priority,” said Gray. “We have a responsibility to put safeguards in place to ensure a fair and level playing field.”

Media outlets throughout the country have speculated for months about the legality of DFS after the New York Times published a story about insider trading among DFS employees.  Gray struck an even tone on the question of legality.

“The legal question is one for our Attorney General and the courts,” said Gray. “The fact remains that we have millions of constituents playing these games with zero assurance of state protections. This legislation will bring California’s laws into the 21st century and provide consumers with the safeguards they expect this Legislature to provide.”

When Gray introduced AB 1437 last September, it was the first substantive bill in the nation to propose regulating Daily Fantasy Sports. After months of investigation and stakeholder meetings, Gray offered updated amendments to the bill which were adopted prior to approval.

“The amendments take into consideration what we have learned over the last four months and further strengthen the consumer protections in the bill,” said Gray. “They add protections for DFS consumer accounts, limit advertising content and location, and further address the issue of problem gamers.”

The bill will next be heard by the Assembly Committee on Appropriations.

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