Two US senators want to look into DraftKings and FanDuel’s antitrust practices

The Federal Trade Commission and Justice Department have been requested by two U.S. senators to look into online betting sites DraftKings and FanDuel because of suspicions that they are conspiring against rivals.

Democrats Senator Peter Welch and Republican Senator Mike Lee requested an investigation in a letter dated December 5 in response to allegations that the two companies were conspiring to persuade companies to avoid doing business with rivals.

Citing the businesses’ unsuccessful 2016 merger attempt, they stated, “With their merger to monopoly blocked, it seems that FanDuel and DraftKings have arguably acted as one company, violating our antitrust laws.” The letter was shared by Lee on social media site X.

The FTC, the Justice Department, and representatives of the two businesses were not immediately available for comment.

DraftKings’ stock was down roughly 2.6% in late-morning Nasdaq trading.