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FanDuel bans employees from all daily fantasy play for money

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Posted at 11:11 AM, Oct 07, 2015
and last updated 2015-10-07 11:14:46-04

NEW YORK (AP) — Daily fantasy sports operator FanDuel says it is banning all employees from playing any daily fantasy sports for money in hopes of rebuilding trust following reports a DraftKings employee may have had access to unfairly valuable data before winning $350,000 in a FanDuel contest.

FanDuel said in a release on Wednesday there's no evidence showing the contest was compromised or that non-public information was used to gain an unfair advantage. But the New York-based company says it doesn't want to rely only on what it knows right now.

FanDuel says it has also hired former U.S. Attorney General Michael Mukasey to evaluate its internal controls.

The company's announcement comes after New York's attorney general sent letters to DraftKings and FanDuel Tuesday demanding they turn over details of any investigations into their employees.

While legal in most U.S. states, daily fantasy sports is unregulated, unlike casinos and lotteries. The incident has been likened to insider trading.

Find out more on daily fantasy sports with this Newsy video. 

 

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