The Federal Trade Commission and the attorneys-general of California and Washington D.C. said Monday they are challenging the merger between daily fantasy sports sites DraftKings and FanDuel. According to the FTC’s complaint, DraftKings and FanDuel are each other’s most significant competitor, and the combined firm would hold more than 90% of the U.S. market. According to the FTC’s complaint, consumers of paid daily fantasy sports are unlikely to view season-long fantasy sports contests as a meaningful substitute.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Latest posts by Market Watch (see all)
- Futures Movers: Oil’s modest recovery leaves U.S. prices nearly flat for the week - October 20, 2017
- What Amazon’s HQ2 means for homeowners, home buyers and renters in the chosen city - October 20, 2017
- The Fed: What a Jerome Powell-led Fed may look like - October 20, 2017