The proposed Fantasy Sports Consumer Protection Act aims to establish a regulatory framework for fantasy contest operators in Nebraska. It requires all operators to be licensed by the Department of Revenue, which will oversee compliance, consumer protection, and the prevention of fraud and underage participation. The bill outlines the licensing application process, which includes background checks and a nonrefundable fee of $5,000, while also allowing existing operators to continue offering contests during the application period. Key provisions include the establishment of a Fantasy Sports Consumer Protection Fund, age restrictions for participants, geolocation verification, and a tax rate of 10% on adjusted gross fantasy contest receipts starting July 1, 2026.

Additionally, the bill amends several sections of the Revised Statutes Cumulative Supplement, 2024, introducing new definitions and clarifying terms related to gambling activities, such as "bookmaking" and "gambling device." It specifies that engaging in fantasy contests must comply with existing gambling regulations and outlines penalties for illegal possession of gambling records. The legislation also ensures that lawful wagering on horse races and other specified activities remain unaffected. Overall, the bill seeks to promote responsible gaming practices and consumer protection within the fantasy sports industry while streamlining legal language and updating statutes to reflect current practices.

Statutes affected:
Introduced: 28-1101, 28-1105, 28-1113