NY State Court Judge Connolly ruled on Monday that fantasy sports contests are gambling, thus rendering the state law legalizing their operation unconstitutional. The decision is a major blow to industry leaders like DraftKings Inc. and FanDuel Inc. However, the Justice noted that the decision fails to bind the lawmakers from excluding such contests from the penal law governing anti-gambling regulations.
Plaintiffs brought the suit against Governor Cuomo and the NY State Gaming Commission opposing the law legalizing fantasy sports betting. The law originally legalized …Continue Reading