• Loading stock data...
Saturday, July 12, 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

NFL

30 NFL Second-Rounders Still Unsigned With Camps Set to Open

Saturday is the earliest rookie report date for training camp.
Alex Rodriguez

Finally in Charge, A-Rod Says Timberwolves Need New Arena

Rodriguez and Lore would like to repair team relations with Kevin Garnett.
Cobh Ramblers
exclusive

Ireland’s Ramblers Latest Soccer Club to Gain U.S. Owner

The Ramblers play in the League of Ireland First Division.

Featured Today

Bobbleheads are seen at Vintage Indy Sports, Tuesday, April 29, 2025 in Speedway. The local sports memorabilia store opened recently.

Baseball’s Bobbleheads Are the Center of the Collectibles Universe

Baseball’s most important keepsake drives long lines—and big business.
Rimouski, QC - JUNE 1: Final Game of the 2025 Memorial Cup between the Medicine Hats Tigers and the London Knights on June 1, 2025, at the Colisée Financière Sun Life in Rimouski, Qc.
July 11, 2025

CHL Is Facing a ‘Pandora’s Box’ of Questions Amid NCAA Talent Departure

As players defect to college, the Canadian Hockey League won’t cede ground.
Jun 28, 2025; Arlington, Texas, USA; Seattle Mariners catcher Cal Raleigh (29) bats during the game between the Texas Rangers and the Seattle Mariners at Globe Life Field.
July 9, 2025

The Torpedo Bat Business Is Still Going Strong: ‘Here to Stay’

Demand for the oddly shaped bats has stayed strong across the sport.
July 6, 2025

American Celebs Want to Be Sports Owners. Soccer Is Where They Start

As U.S. team prices climb, investors set their sights abroad.
July 8, 2025

Betway Parent to Complete U.S. Exodus, Blames Tax Volatility

“Recent regulatory developments” were cited. 
Mar 16, 2024; Las Vegas, NV, USA; The BetMGM Sportsbook at the Mandalay Bay resort and casino.
July 11, 2025

Support Grows to Repeal Gambling Tax in Trump Budget Bill

A new bill has been introduced in the Senate.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

Dealmaker Jeffrey Kaplan maps the evolution of sports as an asset class
Sports are shown on TVs behind a bar as guests enjoy the grand opening of DraftKings Sports & Social in Ohio.
July 7, 2025

California AG Has Declared Daily Fantasy Sports Are Illegal. Now What?

The opinion might spark a broader DFS conversation in the state.
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.
July 3, 2025

California AG Says Daily Fantasy Sports Are Illegal

The AG rejected arguments that DFS are games of skill, not chance.
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.
July 3, 2025

Guardians Pitcher Luis Ortiz Put on Paid Leave Amid MLB Gambling Probe

Reports say the investigation is tied to gambling.
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.
July 1, 2025

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

The California AG is expected to release his opinion by Thursday.