New Jersey Closing in on Fantasy Sports Regulation

New Jersey has taken a step closer to legalising daily fantasy sports (DFS) after a state Assembly committee cleared a bill that would regulate the industry.

The proposed legislation sets out rules to charge DFS companies a fee of 10.5% on gross revenue in order to legally operate in the US state.

Although the exact amount that the state would collect under this structure is unclear, the NorthJersey.com website said Chris Grimm, a consultant for DFS firms DraftKings and FanDuel, estimated the figure at approximately $1 million (€933,532) each year.

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