(Reuters) - The main trade association of the U.S. daily fantasy sports industry said Tuesday it has created an outside control board to ensure that the fast-growing business operates honestly.
The Fantasy Sports Trade Association (FSTA), which has represented the industry since 1998, said it has formed the Fantasy Sports Control Agency to oversee the multibillion-dollar business.
Seth Harris, a former acting U.S. Secretary of Labor in the Obama administration, will run the control board, the FSTA said.
"The issues and opportunities facing the fantasy sports industry can be best addressed through an independent agency supported by the industry and its members," Harris said in a statement.