ALBANY, N.Y. (CBSNewYork/AP) — Legal daily fantasy sports have returned in New York, following a months-long dispute between the state and major daily fantasy companies.
As WCBS 880’s Mike Smeltz reported Monday, the return of fantasy sports came just a couple of weeks before the NFL season opener. Five daily fantasy companies – including DraftKings and FanDuel – have been given clearance by the state to start operating again in New York state.READ MORE: Suffolk County Police Officer In Critical Condition After Being Stabbed By Suspect Following Crash
They will operate under temporary permits that were issued Monday, as the state’s Gaming Commission works on finalizing formal regulations.
The daily fantasy industry exploded in popularity last year, but during that expansion, it also caught the eye of state Attorney General Eric Schneiderman, who shut down the unregulated industry in March.
Earlier this month, Gov. Andrew Cuomo signed into law legislation setting up guidelines for daily fantasy, adding increased protections for players and establishing a 15 percent tax on the companies’ revenue.READ MORE: 12-Year-Old Shot In Brooklyn Remains Hospitalized, Police Searching For Gunman
Schneiderman will continue to pursue false advertising and consumer fraud claims.
The state expects the companies will generate $4 million in tax revenues.
New York is the seventh state this year to legalize and regulate the daily fantasy sports industry.MORE NEWS: Sanitation Worker Dies After Being Struck By Car In Brooklyn, Police Searching For Driver
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