Senators Request FTC, DOJ Probe Into DraftKings, FanDuel for Alleged Antitrust Violations

Dec 6, 2024, 04:22 PM

U.S. Senators Mike Lee and Peter Welch have requested an investigation by the Federal Trade Commission (FTC) and the Department of Justice (DOJ) into the online betting platforms DraftKings and FanDuel for potential violations of antitrust laws. The senators are concerned that these companies might be coordinating against competitors, following reports that they were allegedly pressuring businesses not to engage with competitors. DraftKings and FanDuel, major players in the online betting market, have seen their stocks, $DKNG and $FLUT respectively, affected by the news of the potential probe. The issue has bipartisan support, highlighting the growing scrutiny on the gambling industry's practices. Their merger was blocked in 2016 due to monopoly concerns.