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Senators Lee and Welch Request FTC Probe into DraftKings ($DKNG) and FanDuel ($FLUT) for Antitrust Violations

Dec 6, 2024, 04:25 PM

U.S. Senators from both parties, including Republican Senator Mike Lee of Utah and Democrat Senator Peter Welch, have requested that the Federal Trade Commission (FTC) investigate DraftKings Inc. ($DKNG) and FanDuel ($FLUT) for potential violations of antitrust laws. The senators have expressed concerns over the companies' behavior, particularly in how they might be coordinating to stifle competition in the online gambling industry. This call for scrutiny comes as more Americans are affected by the growing influence of sports betting, with the senators aiming to protect consumers from potential monopolistic practices.