Fantasy Sports
The Unlawful Internet Gambling Enforcement Act of 2006 made transactions from financial companies to online gambling sites illegal, but carved out an exception for fantasy sports, classifying it as a game of skill. Since then, however, daily fantasy sports websites have exploded in popularity and are now worth billions of dollars because of a surge of investors that include national sports organizations, television networks, and team owners. Fantasy sports recently came under scrutiny after an employee of one of the sites admitted to having released confidential information. The same employee then won $350,000 in a competition on a rival site….
