Overview

• California’s Attorney General’s office is preparing a legal opinion expected to be released before the Fourth of July holiday.
• The decision would end the gray-market status that has allowed daily fantasy sports contests under a sports betting prohibition for ten years.
• Major operators including FanDuel, DraftKings, PrizePicks and Underdog Fantasy may have to suspend services in California.
• Industry analysts warn the timing, less than three months before the NFL season, threatens to disrupt peak participation and revenue.
• Rob Bonta’s office has offered no public explanation for the reversal and did not respond to requests for comment.