NASHVILLE – A state agency has a new name and rules in place to regulate a recently passed law legalizing fantasy sports betting in Tennessee.
The state Division of Charitable Solicitations and Gaming, housed in Secretary of State Tre Hargett’s office, is now the Division of Charitable Solicitations, Fantasy Sports and Gaming.
The Fantasy Sports Act of 2016, pushed by gaming companies DraftKings and FanDuel, legalized the companies’ existing gambling operations within the state. Sports fantasy sites that allowed wagering sought the law here and in other states as a number of states began cracking down on what by law was illegal gambling.
The new law requires fantasy sports operators to obtain a license with the division. The license requirement applies to fantasy sports operators who offer daily and season-long contests that charge players an entry fee to assemble imaginary teams and subsequently offer prizes as a result of the outcome of those games.
But the reporting, registration and regulatory burden is on the companies only. There are no reporting requirements for players.