It has been, by any measure, a spectacular fall.

The industry's implosion began with a series of tactical mistakes made by a pair of bitterly hostile startup companies that all but dared federal and state authorities to shut down the sites over concerns the games constituted illegal gambling. Outside the Lines interviewed more than 50 company executives, current and former players, legislators, lobbyists, lawyers, investigators and industry consultants and found that the companies' troubles were triggered, in part, by a toxic combination of young executives' hubris and ignorance, reckless risk-taking and raw political naïveté. Infused with a false sense of security from FanDuel's and DraftKings' surging valuations and soaring revenues, the companies' co-founders and CEOs -- Nigel Eccles, 41, of FanDuel and Jason Robins, 35, of DraftKings -- waged a self-destructive, kill-or-be-killed race toward industry supremacy and a life-changing payday that they now acknowledge was crazy for all of the cash it torched, the wrong messages it sent and the legal and media tsunami it unleashed.
http://www.espn.com/espn/feature/story/_/id/17374929/otl-investigates-implosion-daily-fantasy-sports-leaders-draftkings-fanduel
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