New York State Assembly votes to legalize fantasy sports

Fantasy sports should be legalized, taxed, and regulated, the New York State Assembly decided Friday in a 91 to 22 vote. The bill, which has yet to pass the state senate, is expected to undergo debate in the upper chamber Monday, after which it will proceed to the governor's desk for signature. Gov. Andrew Cuomo has not stated whether he intends to sign or veto.

Supporters of the measure, which distinguishes sports sites like DraftKings from illegal gambling, called the vote a "touchdown" and highlighted the fact that new tax revenues from the fantasy sports industry will support public education.

The bill would require the most prolific player profiles to be visibly identified to prevent novices from getting in over their heads, and fantasy sports companies would have to pay the state a special tax of 15.5 percent of their revenues. If this legislation passes, New York would become the eighth market to permit such online games.

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