The daily fantasy sports industry is close to gaining legal clarity in a new state.
Arkansas nears finish line on DFS
The Arkansas Senate approved legislation on Thursday that would legalize paid-entry fantasy sports with a vote of 25-5.
The House had earlier approved the legislation 69-3. However, the Senate amended the bill, meaning it has to head back to the House for concurrence.
While it’s not a guarantee, it appears the bill will eventually head to Gov. Asa Hutchinson. Given the wide margins the bill passed the legislature, it seems like he will sign it into law.
The bill would tax DFS revenue of operators at a rate of eight percent, for users in the state. The bill contains no real regulation of the industry or consumer protections like laws enacted in other states.
The current landscape for DFS legality
Fantasy sports legislation is active in about half of the states.
Legislative activity has ramped up in recent weeks as states get into the meat of their sessions, or come to their close. One of those states is Georgia: Today is the last day a DFS bill can be passed in 2016.
Mississippi passed a new law this year as well. However, that was just updating a 2016 law that had a sunset provision that would have taken the law off the books in July of this year.
Arkansas will likely become the 11th state to legalize DFS, joining:
- New York