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Gov. Chris Christie signed legislation authorizing the state Division of Consumer Affairs to regulate and tax daily fantasy sports betting enterprises. The legislation, S-3532, (Mazzeo, Caputo) imposes a quarterly operations fee of 10.5 percent of gross revenue on fantasy sports providers and establishes safeguards designed to protect consumers. Fantasy sports betting providers were given 60 days from the Aug. 7 enactment date of the legislation to apply for a permit and are allowed to continue operations while their application is being processed by the state.

 

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