Cuban takes on Texas AG after he declares daily fantasy sports illegal

Dallas Mavericks owner Mark Cuban.
Ronald Martinez/Getty Images

Soon after Texas attorney general Ken Paxton announced Tuesday that daily fantasy sports competitions are illegal in his state, Dallas Mavericks owner Mark Cuban launched a series of tweets arguing against the ruling.

Cuban, an investor in Fantasy Labs, Inc., a company that provides data to the fantasy sports industry, said in one tweet that his investment in daily fantasy sports has nothing to do with his stance on the issue. Cuban has expressed frustration in the past over the belief that daily fantasy sports is considered illegal gambling in some states.

In a statement, Paxton said: "Paid daily ‘fantasy sports’ operators claim they can legally operate as an unregulated house, but none of their arguments square with existing Texas law. Simply put, it is prohibited gambling in Texas if you bet on the performance of a participant in a sporting event and the house takes a cut."

Following the statement, Cuban launched his series of tweets.