The trade group representing both daily and season-long fantasy sports companies is hoping to head off outside regulation by regulating itself.
The Fantasy Sports Trade Association announced Tuesday it would form the Fantasy Sports Control Agency led by former acting U.S. Labor Secretary Seth D. Harris.
The attempt to self-regulate comes as legal scrutiny of the daily fantasy sports industry led by DraftKings and FanDuel grows and questions are raised about consumer protections, including what information employees have access to and when. Until recently, employees at one site were able to play on other sites.
Local Fantasy sports guru Paul Charchian, president of the association that was started in 1998 and now represents about 300 companies, wrote in a separate e-mail to the group's membership that for those sites offering paid fantasy contests, "the necessity for some form of regulation is upon us."
"We can establish and enforce these systems ourselves, or we can put our industry in the hands of outside entities who do not understand the industry as we do — outside entities who are not as able nor as committed to establishing rules and regulations that ensure integrity and transparency while allowing the industry to continue to thrive," he wrote. "Simply put, the leadership of the FSTA believes that we cannot and should not allow the future of our industry to rest in the hands of others."
olympics
Kuwait suspended again
For the second time in five years, Kuwait was suspended by the IOC for political interference, leaving the Gulf country's athletes in limbo for next year's Olympics.
The IOC executive board said Kuwait's national Olympic committee was suspended in order to "protect the Olympic Movement in Kuwait from undue government interference."
Sheikh Ahmad Al-Fahad Al-Sabah, the Kuwaiti who heads the global association of national Olympic committees, said Kuwait would be suspended.