US Senators want DraftKings and FanDuel investigated for alleged antitrust violations

[The Buzz]

Senators Mike Lee (R) and Peter Welch (D) are calling for a federal investigation into online sports betting giants DraftKings and FanDuel.

In a letter dated 5 December to the Federal Trade Commission (FTC) and the Department of Justice (DOJ), the senators expressed concerns over potential collusion between the two companies to stifle competition. Lee and Welch cited reports that DraftKings and FanDuel, both members of the Sports Betting Alliance, may have jointly pressured other businesses to avoid working with their competitors.

From CasinoReports.com:

DraftKings and FanDuel have grown significantly since the FTC blocked their proposed merger in 2017, which would have given the combined entity control over 90% of the daily fantasy sports market. Since then, both companies have expanded into regulated sports betting, becoming dominant players in this burgeoning industry.

The letter from Lee and Welch, addressed to FTC Chair Lina Khan and Assistant Attorney General for Antitrust Jonathan Kanter, alleges that the companies have acted in concert to limit access to the market for smaller competitors. It accuses them of using their influence with major U.S. sports leagues, commercial partners, payment processors, and vendors to discourage cooperation with other sportsbooks.

These coordinated efforts, the senators claim, have made it increasingly difficult for smaller platforms to compete effectively.

Read the article here: https://www.casinoreports.com/senato...ted-antitrust/