Daily fantasy sports rivals DraftKings and FanDuel to merge (Yahoo Sports)

Daily fantasy sports rivals DraftKings and FanDuel have agreed to merge after months of speculation and increasing regulatory scrutiny. The companies have each raised millions of dollars through investors and sponsorship deals, but state attorneys general, lawmakers and regulators have questioned whether their online games - in which players pick teams of real life athletes and vie for cash and other prizes based on how those athletes do in actual games - amount to illegal sports betting. The companies said in their statement that the merger, which still requires federal approval, would help them more efficiently lobby policymakers for a ''standard regulatory framework'' for the relatively new industry, which grew out of the traditional season-long fantasy sports competitions played by millions of Americans.