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Two US senators seek antitrust probe of DraftKings, FanDuel
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Two US senators seek antitrust probe of DraftKings, FanDuel
Dec 6, 2024 9:19 AM

WASHINGTON, Dec 6 (Reuters) - Two U.S senators have

asked the Federal Trade Commission and Justice Department to

investigate online betting platforms DraftKings ( DKNG ) and FanDuel over

concerns they are coordinating against competitors.

In a letter dated Dec. 5, Republican Senator Mike Lee and

Democratic Senator Peter Welch asked for an investigation

following reports that the two companies were allegedly acting

together to pressure businesses not to engage with competitors.

"After their merger to monopoly was blocked, it seems

that FanDuel and DraftKings ( DKNG ) have arguably acted as one company,

violating our antitrust laws," they wrote, citing the companies'

failed 2016 plan to combine. Lee posted the letter on social

media platform X.

Representatives for the two companies, the FTC and the

Justice Department could not be immediately reached for comment.

Shares of DraftKings ( DKNG ) were last down about 2.6% in late

morning trade on the Nasdaq.

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