By Michael Bennett
The planned merger between daily fantasy leading operators DraftKings and FanDuel is off.
After several years of heated competition and legal scrutiny, DraftKings and FanDuel announced plans to merge in November. The combination of the two biggest companies in the rising daily fantasy market drew scrutiny from the Federal Trade Commission.
In June, the FTC and attorneys general from California and the District of Columbia filed suit to block the merger.
DraftKings and FanDuel filed legal briefs this week to answer the complaint, but announced yesterday that they would no longer pursue the merger.