Adam Silver Calls for Regulating Daily Fantasy Sports

NBA Commissioner Adam Silver joined the fray, as discussion (and inaction) continued about how daily fantasy sports should be dealt with, by supporting the creation of (uniform) regulations. This issue is especially relevant for basketball fans because FanDuel already has a partnership with the NBA and a large portion of teams in the Association. In fact the NBA has an equity stake now in FanDuel. The Los Angeles Clippers became partners with DraftKings back in February. So aside from being blitzed by a million annoying advertisements this upcoming season, the NBA has extra incentive to avoid any gambling controversies

For now, regulations have only occurred at the state level. Nevada's Gaming Commission ruled last week that such sites like FanDuel and DraftKings were (obviously) gambling and thus required gambling licenses for operation. For now, no actions has really occurred at the federal level. Investigations have concluded that a DraftKings employee who had won $350,000 (via a $25 entry) on FanDuel had not used insider information (at least from that week) for his winning entry. Still, the specter of shady insider trading continues to haunt suddenly booming industry of daily fantasy sports.