Daily fantasy sports (DFS) market leaders FanDuel and DraftKings will no longer pursue a merger, the pair have announced.

The two companies have executed a termination agreement and will withdraw litigation from the Federal Trade Commission (FTC), which was in the process of seeking an injunction to block the deal from going ahead.

The Commission announced its opposition to the merger last month, concerned at the dominance of the proposed new entity which would have controlled more than 90 per cent of the US fantasy sports market.

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