New York Judge rules against DraftKings and FanDuel
December 14, 2015
Daily fantasy sports were delivered a potentially devastating blow Friday by New York Supreme Court Justice Manuel Mendez, who ruled a temporary injunction that the sites must stop accepting bets and wagers within the state. DraftKings and FanDuel were, however, granted a temporary emergency stay to continue operating within the state. Currently, six U.S. states do not allow the companies to operate within their borders on grounds of the services being illegal online gambling. DraftKings and FanDuel have together raised nearly $800 million in funding from investors and both were valued at $1 billion or more with their most recent financings.