A year ago, fantasy sports was rapidly building into a multi-billion dollar US business with huge global potential. Now it's fighting to survive amid objections that the industry is essentially unregulated gambling.
Two major fantasy sports operators said Thursday they would suspend contests involving teams and athletes from universities as part of an agreement with the governing body for college athletics.
Yahoo said Tuesday it was halting its fantasy sports contests in New York state, joining two other operators targeted by regulators who claim the service is effectively illegal gambling.
A New York appeals court on Friday suspended an order that would have forced two fantasy sports websites to suspend operations in the state, a lawyer said.
Yahoo has been issued a subpoena in a New York state investigation into daily fantasy sports games, sources close to the case said Thursday.
New York state investigators are looking into Yahoo's daily fantasy sports games to determine if they should be targeted for illegal gambling along with other operators, sources said Wednesday.
Fantasy sports websites DraftKings and FanDuel filed lawsuits on Friday seeking to avert a shutdown ordered by New York state officials, setting up a legal showdown.
Daily fantasy sports companies suffered another blow this week as authorities in Nevada deemed them gambling enterprises and ordered them to suspend operations in the state until they have proper licenses.
DraftKings, a leading player in the booming fantasy sports business, announced Monday that it raised $300 million from a group of investors that includes Fox Sports and three major sports leagues.
Tech company Yahoo is entering the realm of daily fantasy sports contests with a new product called Yahoo Sports Daily Fantasy.