Tennessee Sends DFS Bill To GovernorLegislation's Success Comes Just Weeks After AG Said Games Illegal |
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Tennessee is poised to become just the third state in the country to enact a new law to regulate daily fantasy sports sites.
Last week, the state Senate passed legislation that was previously given approval from the House. The legislation sits in the hands of the governor for a signature.
Support was very strong for the bill. The House approved it 67-17, while the Senate said OK by a 27-2 vote. Indiana and Virginia are the only other states that sent DFS bills to their respective governors.
The Tennessee bill will create oversight on the games and impose a six-percent tax.
The governor has just a handful of additional days to sign the measure.
FanDuel, one of the leading players in the DFS space, said in a statement:
“The legislature has passed strong, but smart regulations ensuring the more than one million fantasy players in Tennessee benefit from important consumer protections and can continue to play fantasy sports. We want to thank the bill sponsors Senator Jack Johnson and Representative Pat Marsh, and the members of the legislature for taking a detailed and careful approach to this issue, which delivered a reasonable solution for the state.”
The success of the legislation comes not long after the Tennessee Attorney General said that DFS is currently illegal under state law.
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