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FanDuel raising new money from insiders

AP Photo/Kathy Willens

Fantasy sports site FanDuel is in the process of raising between $30 million and $40 million in new financing from existing investors, Axios has learned. The deal would be structured as a convertible note. A FanDuel spokeswoman declined comment.

Why now: This fundraising comes two months after FanDuel and DraftKings terminated their merger agreement, due to objections from federal antitrust regulators. New York-based FanDuel had suspended fundraising activities in anticipation of the merger, which had valued each company at $1.2 billion, so this is really just a restart of an old process.

Money history: Prior to this round, FanDuel had raised over $400 million in funding from firms like KKR, Google Capital, Shamrock Capital Group, Time Warner Investments and Comcast Ventures.

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D.C.'s March for our Lives: "The voters are coming"

Protestor at D.C.'s March for our Lives.
Protestor at D.C.'s March for our Lives. Photo: Stef Kight / Axios

D.C.'s March for our Lives event is expected to see more than half a million participants.

Why it matters: While D.C. is the primary march, there are hundreds of others around the world and across the country. Led by students, the march is "to demand that a comprehensive and effective bill be immediately brought before Congress to address" gun issues, per the organization's mission statement.

Haley Britzky 8 hours ago
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DOJ eyeing tool to allow access to encrypted data on smartphones

Deputy Attorney General Rod Rosenstein.
Deputy Attorney General Rod Rosenstein. Photo: Win McNamee/Getty Images

The Justice Department is in "a preliminary stage" of discussions about requiring tech companies building "tools into smartphones and other devices" that would allow law enforcement investigators to access encrypted data, the New York Times reports.

Why it matters: This has been on the FBI's mind since 2010, and last month the White House "circulated a memo...outlining ways to think about solving the problem," officials told the NYT. Both FBI Director Christopher Wray, and Deputy Attorney General Rod Rosenstein, support finding ways for law enforcement to access data without compromising devices security.