NJ SENATE COMMITTEE APPROVES FANTASY SPORTS BILL

On Monday a New Jersey Senate committee approved a bill that would regulate fantasy sports gambling in the state. The legislation, sponsored by Sen. Jim Whelan, D-Atlantic, requires state regulation of fantasy sports but will allow companies like DraftKings to continue their business while they apply for permits. Fantasy sports sites will not be permitted to let their employees or executives gamble on their sites or share information gathered by their companies. They must pay 9.25 percent of their annual gross revenues to state.