The bill, called the Fantasy Contests Act, is the first of its kind in the US and outlines how sites like FanDuel and DraftKings can operate legally in the state of Virginia. It was signed by governor Terry McAuliffe, who put the state's Department of Agriculture and Consumer Service in charge of overseeing the industry.
The Fantasy Sports Act states that, alongside undergoing two independent audits every year, fantasy sport sites must pay a $50,000 fee to operate. All players must be 18 years or older and employees of fantasy sports sites are prohibited from participating in public contests.
Griffin Finan, director of public affairs for DraftKings, said: “We thank governor McAuliffe for his leadership and advocacy and are hopeful that other states across the country will follow Virginia’s lead. We will continue to work actively to replicate this success with dozens of legislatures and are excited to continue these efforts.”