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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.

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.

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

Our review concludes that DraftKings'/FanDuel's operations constitute illegal gambling under New York law.

Daily fantasy sports is much closer to online poker than it is to traditional fantasy sports.

While, to me, daily fantasy is in no way sports betting, it's certainly a cousin of sports betting in that it attracts many of the same type of people who would otherwise choose to bet on sports.

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.

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.

The thing that all sports have in common is that they have no fantasy elements, which is a little weird.

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