Congress on Wednesday launched a fact-finding mission into the loosely regulated world of fantasy sports games — a multibillion-dollar business that seemingly advertised everywhere during the pro football season.
Lawmakers at a House hearing were generally supportive of the industry as they explored whether federal safeguards are needed to protect players in daily fantasy leagues. Most players ending up losing at the hands of better-informed players who often have a technological edge.
States are beginning to enact a patchwork of laws regulating the industry and its dominant companies, DraftKings and FanDuel.
Fantasy sports games involve choosing an imaginary...