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Griffin Finan

Virginia is 1st state to legalize, regulate fantasy sports

in Apolitical/Top Headlines by

Virginia has become the first state with a law regulating the fast-growing but embattled online fantasy sports industry and specifying that fantasy sports betting is not “illegal gambling.” Democratic Gov. Terry McAuliffe signed a bill Monday that formally legalizes and regulates sites such as FanDuel and DraftKings, requiring them to pay a $50,000 initial registration fee and submit to regular outside audits. The law will take effect July 1. McAuliffe said in a written statement it will “empower Virginia to…

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