financetom
Business
financetom
/
Business
/
Two US senators seek antitrust probe of DraftKings, FanDuel
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
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.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
UniCredit's Orcel was plotting bid before Banco BPM forced hand, sources say
UniCredit's Orcel was plotting bid before Banco BPM forced hand, sources say
Dec 11, 2024
MILAN (Reuters) - UniCredit CEO Andrea Orcel has been drawing up plans to take over Banco BPM for years and was almost ready to pull the trigger, two sources close to the matter said. But instead of being able to choose the right moment, UniCredit had to rush out a 10 billion euro bid when Italy's third-largest lender made its...
Enphase Energy Starts Shipping IQ8X, IQ8 Microinverters With Higher Domestic Content
Enphase Energy Starts Shipping IQ8X, IQ8 Microinverters With Higher Domestic Content
Dec 11, 2024
09:25 AM EST, 12/11/2024 (MT Newswires) -- Enphase Energy ( ENPH ) said Wednesday it has started shipping IQ8X microinverters and IQ8P-3P commercial microinverters provided by plants in the US with higher domestic content than previous models. The company previously said that some IQ8 microinverters, combined with other US-made solar equipment, could qualify for the domestic content bonus tax credit...
Lightwave Logic Names Yves LeMaitre CEO
Lightwave Logic Names Yves LeMaitre CEO
Dec 11, 2024
09:17 AM EST, 12/11/2024 (MT Newswires) -- Lightwave Logic ( LWLG ) said Wednesday that it has named Yves LeMaitre as chief executive officer, and Thomas Zelibor, former CEO and chairman, as president. LeMaitre succeeds Michael Lebby, who retired as chairman and CEO as of Tuesday, Lightwave said. The company's board also named Ronald Bucchi, current lead independent director, as...
Market Chatter: Apple Working With Broadcom on AI Chip
Market Chatter: Apple Working With Broadcom on AI Chip
Dec 11, 2024
09:21 AM EST, 12/11/2024 (MT Newswires) -- Apple ( AAPL ) is working with Broadcom ( AVGO ) as it develops its first server chip specially designed for artificial intelligence, The Information reported Wednesday, citing three people with direct knowledge of the project. Apple's ( AAPL ) work with Broadcom ( AVGO ) pertains to the chip's networking technology, a...
Copyright 2023-2026 - www.financetom.com All Rights Reserved