• Loading stock data...
Tuesday, April 1, 2025
Nominations Are Open for Front Office Sports Honors! Submit Now

Sens. Say DraftKings, FanDuel May Have Conspired to Crush Competition: ‘One Company’

Two senators wrote a letter to the FTC and DOJ asking them to look into FanDuel and DraftKings’ influence on the daily fantasy market.

DraftKings
DraftKings

Two U.S. senators sent a letter to the Federal Trade Commission and Justice Department about concerns that DraftKings and FanDuel are conspiring to maintain a duopoly over the sports gambling and daily fantasy markets.

Senators Mike Lee (R., Utah) and Peter Welch (D., Vt.) penned a letter Thursday to FTC chair Lina Khan and assistant attorney general of the DOJ’s antitrust division Jonathan Kanter, which Lee posted to social media Friday. The letter says it “seems that FanDuel and DraftKings have arguably acted as one company” since the FTC, state of California, and Washington, D.C., sued in 2017 to block their merger attempt, and the companies called it off. The legislators ask the regulators to “undertake any investigative or enforcement actions necessary” to make sure the companies aren’t violating antitrust law outlined in the Sherman Act.

The “one company” allegations stem from a March commentary from Salil Mehra, a law school professor at Temple University. Mehra said FanDuel and DraftKings own more than 90% of the fantasy sports market. He also wrote that recent bans against other daily fantasy companies in several states began with a lobbyist in Wyoming who had ties to the Sports Betting Alliance, a lobbying group that lists FanDuel, DraftKings, BetMGM, and Fanatics Sportsbook as its only four members on its website. Mehra wrote “these two companies now appear to be behaving as an anti-competitive duopoly.”

The letter also referenced other “concerning reports” that the two companies “worked in concert” to “[interfere] with their rivals’ relationships with major sports leagues, marketing partners, payment processing companies, and critical vendors.

“FanDuel and DraftKings were prevented from merging because it would have substantially lessened competition and harmed consumers by forming a monopoly,” the senators said in their letter. “They should not be allowed to accomplish through collusion what was prevented through acquisition.”

A representative from DraftKings did not immediately respond to a request for comment, while a spokesperson for FanDuel said the company has no comment at this time.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Laney-Hamilton

WNBA Champion Missing Season Shows Risks and Kinks of Unrivaled

The Liberty have six weeks to make a decision on Betnijah Laney-Hamilton.
Jul 27, 2024; Vancouver, British Columbia, CAN; Wrexham AFC midfielder Sebastian Revan (53) celebrates scoring against Vancouver Whitecaps FC during the first half at BC Place.

Invest in International Soccer Clubs at Your Own (Relegation) Risk

Relegation is more common in Europe than the U.S.
Mar 30, 2025; Minneapolis, Minnesota, USA; Detroit Pistons center Isaiah Stewart (28) reacts after a fight against the Minnesota Timberwolves during the second quarter at Target Center. Stewart was later ejected from the game.

NBA Lightly Suspends Five Players for Timberwolves-Pistons Brawl

The brawl came in a game where 12 technical fouls were issued.
Caledonian Braves

The Scottish Soccer Club With 9,000 Owners—Including NBA and NWSL Players

The Braves’ popularity exploded in the last 10 months.

Featured Today

Mar 26, 2025; Indianapolis, Indiana, USA; Los Angeles Lakers forward LeBron James (23) in the first half Indiana Pacers at Gainbridge Fieldhouse.

The Creator Behind the LeBron ‘Glazing’ Trend Sweeping TikTok

FOS spoke to TikTok user OkaySpade who made the original song.
Seattle Kraken
April 1, 2025

Samantha Holloway Is Seattle’s NHL Present—and Hopeful NBA Future

Samantha Holloway is steering the Kraken and hoping to revive pro hoops.
Brehanna Daniels
March 31, 2025

NASCAR Pit Crew Member Brehanna Daniels Didn’t Know She’d Be a Trailblazer

The first Black female tire changer didn’t know she’d be a trailblazer.
Columbia, SC - February 16, 2025 - Colonial Life Arena: Rebecca Lobo and Ryan Ruocco during a regular season game.
March 30, 2025

Inside Ryan Ruocco’s Rapid Rise to ESPN’s Top Voice of Women’s Hoops

The top voice became “quickly addicted” to calling the women’s game.
Dec 11, 2021; Las Vegas, Nevada, USA; Darrick Minner moves in with a hit against Ryan Hall during UFC 269 at T-Mobile Arena
March 26, 2025

UFC Fighters Suspended Over Roles in Fight-Rigging Scheme

One fighter called his three-year ban “insane.”
March 27, 2025

Sportsbooks Reflect MLB’s Divide: Dodgers Heavy Favorites, White Sox No Shot

The defending champion Dodgers are favored at historic levels to repeat.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
Mar 15, 2025; New York, NY, USA; St. John's Red Storm guard RJ Luis Jr. (12) after hitting a three-point basket against the Creighton Bluejays in the second half at Madison Square Garden.
March 20, 2025

Perfect Storm: St. John’s Biggest Fans Can’t Bet on the School

In the No. 1 sports betting market, the Red Storm are off-limits.
Mar 14, 2025; Kansas City, MO, USA; Texas Tech Red Raiders guard Kevin Overton (1) and Arizona Wildcats forward Carter Bryant (9) go after a loose ball during the second half at T-Mobile Center.
March 17, 2025

Robinhood Adding Prediction Market From Kalshi After Super Bowl About-Face

Robinhood’s partnership with Kalshi will be wide-ranging.
Mar 10, 2025; Dunedin, Florida, USA; Houston Astros outfielder Jacob Melton (76) steals second base past Toronto Blue Jays second baseman Andres Gimenez (0) in the second inning during spring training at TD Ballpark.
March 10, 2025

MLB Asks CFTC to Ensure ‘Integrity’ of Bets on Exchanges Like Kalshi

The CFTC is reviewing the legality of sports event contracts.
March 5, 2025

Nevada Orders Kalshi to Shut Down Sports Markets

Kalshi has not taken down the markets yet.