The daily fantasy sports industry is changing faster than anyone can keep up with.
Just two years ago, daily fantasy sports sites FanDuel and DraftKings were virtually unheard of. After a huge marketing blitz, they exploded into billion-dollar companies. All that attention not only caused their valuations to skyrocket, but it caught the eye of regulators and lawmakers hoping to protect consumers and share in the profits.
Today, the industry looks very different. It is changing daily, and operators are rushing to keep up, or risk dying. The Fantasy Sports Trade Association estimates 10 percent of the industry has disappeared in the past months. There are reports that two of the daily fantasy sports industry's biggest players, FanDuel and DraftKings, could be merging.
Both FanDuel and DraftKings declined to comment on the reports.
DraftKings Chief Marketing Officer Janet Holian said the company does entertain potential merger talks from time to time with FanDuel, but it's part of an ongoing conversation.
Holian called the latest reports "rumors and speculation."
Among all these disruptions, industry professionals gathered this week at the Fantasy Sports Trade Association's summer conference in New York.