Why is DraftKings asking me for identification and personal information?
Federal law requires reporting on currency transactions over $10,000 conducted by, or on behalf of, one person, as well as multiple currency transactions that aggregate to over $10,000 in a single day. These transactions are reported on a Currency Transaction Report (CTR) form. The federal law that requires the filing of these reports was passed to safeguard against money laundering and other financial crime. To comply with this law, DraftKings must obtain personal identification information about the individual conducting the transaction such as a Social Security Number, as well as a driver’s license or other government issued document. There is no general prohibition against handling or wagering large amounts of currency, and the filing of CTRs is required regardless of the reason for the currency transaction.