• Loading stock data...
Friday, July 4, 2025

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

George Shea

Hot Dog Maven George Shea on Chestnut Comeback and Investor Interest

George Shea runs a real estate PR firm and Major League Eating.
Dec 29, 2024; Philadelphia, Pennsylvania, USA; Dallas Cowboys quarterback Cooper Rush (10) passes the ball against the Philadelphia Eagles during the first quarter at Lincoln Financial Field.
breaking

California AG Says Daily Fantasy Sports Are Illegal

The AG rejected arguments that DFS are games of skill, not chance.

Geoffrey Esper Can’t Catch a Break at Nathan’s Hot Dog Eating Contest

“Hot dogs is not one of my favorite competitions of the year.”
Jun 9, 2025; Cleveland, Ohio, USA; Cleveland Guardians starting pitcher Luis Ortiz (45) throws a pitch during the first inning against the Cincinnati Reds at Progressive Field.

Guardians Pitcher Luis Ortiz Put on Paid Leave Amid MLB Probe

Reports say the investigation is tied to gambling.

Featured Today

3,000 Hot Dogs, $20K in Prizes: Behind the Nathan’s Eating Contest

Nathan’s serves up thousands of hot dogs and $20,000 in prize money.
June 29, 2025

The Battle Over Wimbledon’s Ambitious Expansion Plan

A classic NIMBY standoff on one of the most hallowed grounds in sports.
Seattle Rough & Tumble
June 28, 2025

Women’s Sports Bars Are on the Rise. Survival Isn’t Guaranteed

Some women’s sports bars are cashing in. Others are clawing for funding.
June 27, 2025

Shitposters Have Taken the Reins of Pro Sports’ Official Voices

Meet the social media pros turning sports teams into internet trolls.
Jun 19, 2025; Indianapolis, Indiana, USA; Indiana Pacers guard Andrew Nembhard (2) drives to the basket against Oklahoma City Thunder forward Chet Holmgren (7) during the third quarter during game six of the 2025 NBA Finals at Gainbridge Fieldhouse.

‘Existential Threat’: Underdog Sports Sues to Stop AG’s Fantasy Sports Opinion

The California AG is expected to release his opinion by Thursday.
Quincy Taylor
June 17, 2025

Several Americans Banned in British Basketball Game-Fixing Scandal

Five former Surrey Scorchers players were hit with lengthy gambling suspensions.
Mar 15, 2025; Detroit, Michigan, USA; Detroit Pistons guard Malik Beasley (5) celebrates in the first half against the Oklahoma City Thunder at Little Caesars Arena.
June 30, 2025

Malik Beasley Is Latest Betting-Related Headache for NBA

It’s the third NBA betting scandal in the last year-and-a-half.
Sponsored

Hottest Matchups Following NFL Schedule Release

The NFL released the 2025 regular-season schedule, and anticipation is already building in the ticket marketplace with four months to go.
Mar 30, 2025; Spokane, WA, USA; LSU Lady Tigers guard Flau'Jae Johnson (4) shoots against UCLA Bruins center Lauren Betts (51) during the second half of a Elite 8 NCAA Tournament basketball game at Spokane Arena.
June 17, 2025

Louisiana Sports Betting Set to Aid LSU and Other State Schools

Louisiana lawmakers have been creative in finding state money for NIL.
A view of the FanDuel Sportsbook betting area at Belterra Park Cincinnati.
exclusive
June 13, 2025

FanDuel, Kalshi Have Discussed a Deal

Could FanDuel take an equity stake in Kalshi?
Fanduel
June 10, 2025

FanDuel, DraftKings Add Illinois Transaction Fee in Response to New Tax

FanDuel will charge 50 cents per bet starting Sept. 1.
May 1, 2024; Los Angeles, California, USA; A general overall view as Dallas Mavericks and LA Clippers players run across the Clippers logo at midcourt in the first half during game five of the first round for the 2024 NBA playoffs at Crypto.com Arena.
June 6, 2025

Kalshi’s Momentum Fuels Crypto.com’s Fight Over Sports Markets

Crypto.com cited a recent Kalshi court victory in its own fight against Nevada.