The bill proposes the legalization and regulation of sports betting and fantasy contests in Minnesota, establishing a comprehensive framework for licensing, taxation, and oversight. It introduces new definitions related to sports betting, such as "authorized participant," "mobile sports betting," and "sports betting supplier," and allows individuals aged 21 and older to participate in mobile sports betting through licensed operators. The legislation prohibits local restrictions on sports betting activities and defines unlawful sports betting as any wagering not compliant with established regulations, except for class III sports betting conducted by Indian Tribes under existing compacts. The commissioner is empowered to regulate mobile sports betting, ensuring fair and transparent operations while promoting public safety, and includes provisions for civil and criminal penalties for violations.

Additionally, the bill outlines licensing requirements for mobile sports betting operators and fantasy contest operators, mandating background checks and compliance with various regulatory standards. It establishes a 22% tax on sports betting net revenue from online wagers, while exempting wagers placed on Indian lands from state taxation. The bill also introduces a 15% tax on adjusted gross fantasy contest receipts and emphasizes responsible gambling practices, including advertising regulations and the creation of a helpline for individuals struggling with gambling disorders. Overall, the legislation aims to create a regulated environment for sports betting and fantasy contests, ensuring compliance with state laws, protecting sensitive data, and promoting responsible gambling practices.

Statutes affected:
Introduction: 270B.07, 260B.007, 609.75, 609.755, 609.76, 297E.02, 349.12, 240.01, 245.98, 609.761