DraftKings and FanDuel, industry leaders in what had been a burgeoning daily fantasy sports business, will immediately stop operating paid contests in New York, state Attorney General Eric Schneiderman announced Monday.
In return, the state will delay — and possibly end — its lawsuits over whether the pair's business actually constitutes illegal gambling.
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The attorney general's pending lawsuits — which, if successful, would force DraftKings and FanDuel to pay back state residents who lost money on the sites' games — will be placed on hold until an appeals hearing sometime in September.