Even the Wild West did not stay wild forever

Those who have been dreaming of making money in daily fantasy sports may be in for a rude awakening. A class-action lawsuit has been filed against the 2 major players in the industry, DraftKings and FanDuel, questioning the self-regulatory methods of their contests. The recent scandal has shades of insider trading, where employees from each company would take the internal information (including player rankings, strategy, etc) and submit “teams” to the opposing company. Both companies have been advertising heavily with popular sports leagues like the NFL and MLB, leading many to believe they are very financially successful. The latest lawsuit was filed by a man from Watertown, MA (DraftKings is based in Boston, while FanDuel is based in New York City). Read More