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Philip Anschutz

State lawmakers move forward on regulating online fantasy sports sites

State lawmakers move forward on regulating online fantasy sports sites

While some states have banned fantasy sports websites, California lawmakers on Wednesday took a step toward permitting, taxing and regulating the industry.

DraftKings, FanDuel and other Internet companies — asserting that fan wagering involves skill rather than luck — have created a billion-dollar business.

Officials in New York, Illinois and Washington have disagreed, determining that the sites constitute illegal gambling; other states have the issue under consideration.

On Wednesday, a California Assembly committee approved a bill that would allow such companies to operate in the state if they obtain a license and pay an...

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