• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

Two US senators seek antitrust probe of DraftKings, FanDuel

by December 6, 2024
written by December 6, 2024

WASHINGTON (Reuters) – Two U.S senators have asked the Federal Trade Commission and Justice Department to investigate online betting platforms DraftKings (NASDAQ:DKNG) and FanDuel over concerns they are coordinating against competitors.

In a letter dated Dec. 5, Republican Senator Mike Lee and Democratic Senator Peter Welch asked for an investigation following reports that the two companies were allegedly acting together to pressure businesses not to engage with competitors.

“After their merger to monopoly was blocked, it seems that FanDuel and DraftKings have arguably acted as one company, violating our antitrust laws,” they wrote, citing the companies’ failed 2016 plan to combine. Lee posted the letter on social media platform X.

Representatives for the two companies, the FTC and the Justice Department could not be immediately reached for comment.

Shares of DraftKings were last down about 2.6% in late morning trade on the Nasdaq.

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
U.K. stocks lower at close of trade; Investing.com United Kingdom 100 down 0.54%
next post
Meme stock AMC down after deal with Goldman to sell up to 50 mln shares

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Ryanair cuts 2026 traffic forecast amid ongoing Boeing...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks

      June 26, 2025
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

      June 26, 2025
    • Bumble shares jump 26% as dating company plans to axe 30% of workforce

      June 26, 2025
    • Small-business AI use is lagging, but one firm is channeling Sherlock Holmes and knocking out ‘grunt work’

      June 25, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (534)
    • Stock (6,426)

    Latest News

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

    Popular News

    • Israel lawmakers to vote on delayed 2025 wartime budget on Sunday, Finance Minister says
    • Meta Platforms target raised at Truist as ‘3Q24 to show sustained ad demand’

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy