Mass. AG Unveils Daily Fantasy Sports Regulations
With her counterpart in New York having already taken action against the industry, Massachusetts Attorney General Maura Healey announced new regulations for daily fantasy sports companies Thursday.Healey says her office has and will continue investigating the industry including meeting with the largest companies, DraftKings and FanDuel. The Democrat says the draft regulations create transparency and protect consumers adding that less than two percent of players win 90 percent of the prizes in most contests.
“What our regulations will do is require that these companies set up tiered systems so that people are able to play against people of equal experience,” said Healey.
The regulations also prevent people under 21 from playing and prohibit advertising on college campuses and betting on college games. A public hearing on the regulations is scheduled for January 12th. Healey says she expects the companies to comply.