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Unlike most traditional, season-long fantasy sports sites, which make most of their money from administrative fees and advertising, FanDuel and DraftKings take a cut of every bet. That is what bookies do, and it is illegal in New York.

Our investigation has found that, unlike traditional fantasy sports, daily fantasy sports companies are engaged in illegal gambling under New York law, causing the same kinds of social and economic harms as other forms of illegal gambling and misleading New York consumers.

Games of chance often involve some amount of skill; this does not make them legal. Good poker players often beat novices. But poker is still gambling, and running a poker room - or online casino - is illegal in New York.

Daily fantasy sports is neither victimless nor harmless, and it is clear that DraftKings and FanDuel are the leaders of a massive, multi-billion-dollar scheme intended to evade the law and fleece sports fans across the country.

I'm not coming in as an advocate of sports gambling. I'm trying to be more of a realist to say it's going on in a massive way... and I think the right course would be therefore to legalize it and regulate it.

The ban on sports betting does exactly what Prohibition did. It makes criminals rich.

The 2006 federal Internet gaming statute is not ambiguous. It does not prohibit gambling on fantasy sports.

Obviously, Nevada doesn't prohibit all forms of gambling, but you have to submit yourself to a very rigorous regulatory process to run a gambling operation in Nevada.

Putting a stop to internet gambling is a necessary reform that targets flagrant violations of state and federal laws.