Illinois Seeks To Regulate DFS IndustryBill Calls For Some Rules Overseeing Industry |
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A bill in Illinois wants the state to regulate a booming daily fantasy sports industry that is expected to generate around $2.6 billion in entry fees this year.
The legislation, HB 4323, was announced this week by State Rep. Mike Zalewski, D-Riverside. It’s called the Fantasy Contests Act.
The bill “provides that participants in fantasy contests as defined under the Fantasy Contests Act shall not be convicted of gambling.”
The legislation would make it so that players must be 18 years of age to play.
Earlier this month, Nevada became the sixth state to prohibit DFS sites. Arizona, Louisiana, Iowa, Montana and Washington State are the other jurisdictions where the businesses don’t offer their respective products. California, Massachusetts, Florida, New York and Pennsylvania are among the states looking at the DFS industry and possible regulation.
The move by Illinois comes during a state budget crisis that has resulted in lottery winners getting IOUs rather than their prize money.
Here’s a look at Illinois’ HB 4323:
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