AB 1437 offers to lead the way by legalizing daily fantasy sports in California.
The state Assembly committee approved a bill that would provide legal base for daily fantasy sports (DFS) sites in California. AB 1437 would create comprehensive regulatory framework for DFS. Currently, DFS is an illegal game in California. AB 1437 would enact “the Internet Fantasy Sports Games Consumer Protection Act.” Now, the bill was passed to the House’s Committee on Appropriations.
By legalizing daily fantasy sports in California the state could lead the way
After its implementation, operators could acquire licenses to offer their services in California for an annual fee. Before issuing a license, the regulatory body would make a background check on operators. Taxes would be paid on profits and player winnings that have to be reported to the regulator. AB 1437 would also legalize and regulate sports betting and internet poker in California.
“In California, we have an opportunity to lead the way and to set the tone for how to balance consumer protections with consumer demand,” said Adam Gary, Democratic Assemblyman. Ha added that DFS must be regulated in order to ensure a safe environment for users sunce “Daily fantasy sports betting is happening in California, whether we like it or not.” Click here to read AB 1437 in full.