FanDuel Promotes Compliance Head to Head of Legal

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FanDuel Group has appointed Carolyn Renzin, the online gambling company’s compliance chief, as the new chief legal officer.

According to FanDuel’s spokesperson, Renzin will still maintain her role as a compliance chief. Her new tasks include overseeing the company’s legal risk, responsible gaming function, and regulatory engagement.

Renzin started her career with FanDuel at the beginning of 2021. She took on the tasks of chief risk and compliance officer in her first year. Prior to working with FanDuel, she worked at financial company JPMorgan Chase & Co. as an assistant general counsel, specifically assisting in regulatory litigation.

Her regulatory knowledge stems from her time as a consultant and defense partner. She worked as a consultant with Guidepost Solutions, where she assisted firms that were under regulatory scrutiny. She then worked at Stillman, Friedman & Shechtman, where she represented firms experiencing regulatory and legal challenges.

FanDuel is a New York-based company that began as a fantasy sports platform before expanding its outreach to sports betting in 2018. The business has grown fast over the last few years.

The platform recorded eight million bets during the 2022 Super Bowl, a 100 percent increase compared to 2021. Additionally, during March Madness collegiate basketball event, 19 million bets were made.

This company is owned by Flutter Entertainment PLC, which is the holder of several gambling brands operating across the globe. Brands owned by the Dublin-based company include FOX Bet, Betfair, and Pokerstar.

At this time, there are 35 states in the U.S that have legalized sports betting. As more states will likely legalize sports betting in the future, having an experienced legal officer is helpful for FanDuel to expand its operations in the country.

FanDuel, one of the country’s largest sports betting businesses, intends to expand into other market sectors. The legal department handles the licensing procedure in the target states. Other issues to consider while conducting a legitimate sports betting operation include advertising rules compliance.