California Confirms Ban on Daily Fantasy Sports and Betting

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00:00Okay. So, man, so not only sports betting out of the mix in California, but now Daily Fantasy as

00:09well. I mean, not even like these prediction markets in Cal sheet, like literal DFS going

00:14to leave California too. I don't understand why all the pushback with this. What am I missing?

00:20Yeah. So this dates all the way back to the fall of 2023 when a Senator in California asked the

00:25Attorney General to look at Daily Fantasy Sports and tell us what is really going on.

00:31And so it took almost two years for Attorney General Rob, I'm blanking on his name at the

00:37moment, but he came out and a huge report, you can go read the details at Legal Sports

00:44Report. It's too much to really talk about here, but he's said pretty much every form of

00:48Daily Fantasy Sports is illegal. And yeah, it goes through every single kind of version

00:56of Daily Fantasy Sports you could imagine is not just the pick them, which probably spurred

01:01this on back in the fall of 2023. And yeah, it's so it's him saying it's illegal. Now,

01:09from there, we don't really know what's going to happen. I think there's going to be a lot

01:13of legal battles happening. You know, we've already seen some action from underdogs, you

01:17know, asking it for it to stop. We've seen prize picks change from against the house to peer to

01:23peer because they think that's part of the issue because, you know, gambling in California is tribal

01:31exclusive, except that you can have card rooms that are, you know, a pool of bets. So it's an

01:37interesting situation. And now just because he rules this illegal does not change the law. So I think

01:43that's where the thing is, you know, you, there's still a lot of interpretation left, they do have

01:49to, you know, this was a senator that requested this. So maybe that, you know, because he's ruled

01:53it illegal, you go back and change laws there. Who knows, it's, again, not enforceable yet, or he could,

02:01I guess, turn around and say it's, he can try to enforce it. But right now, it's not it's in this

02:06little limbo area where we're not really sure what's happening. He just says it's illegal. But it can't

02:11change law. Again, it's going to be likely a legal battle for a long time. And we'll see what happens.

02:17And this is just another piece of an interesting couple of weeks in California. If you recall,

02:21just I think it was two weeks ago, a bill was or language was inserted into a bill that would

02:28outlaw or ban sweepstakes, casinos and sports betting, which, of course, we've seen lots of

02:34that happen this year. So California is an interesting market, because as you've said,

02:38there is no legal online casino, there is no legal online sports betting. And now you've just you're

02:44seeing the lawmakers and say, you know what, let's see what's actually legal. Let's tighten this up a

02:49little bit. Let's let's do some due diligence. Of course, when you get right down to it, about this

02:55ruling from Attorney General is Governor Gavin Newsom came out and said, he doesn't agree with

03:02it. But then you've got all the tribes who've come out and allotted the the ruling. So it's,

03:07it's a very interesting kind of situation. Again, more details at Legal Sports Report that goes

03:13through everything and how we ruled each different kind of model of DFS. So certainly go go check that

03:22out.