The "Fantasy Sports Consumer Protection Act" establishes a regulatory framework for fantasy contest operators in the state, creating guidelines under Title 5 of the General Laws. The bill defines key terms such as "fantasy contest," "fantasy contest operator," and "participant," and assigns the Department of Business Regulation (DBR) the authority to oversee these operators.

Key provisions include licensing requirements that mandate background checks and fees based on adjusted gross fantasy contest receipts. The bill clarifies that fantasy contests are not classified as gambling and allows existing operators to continue their activities while their applications are being processed, provided they apply within ninety days after the adoption of the rules and regulations.

The legislation also addresses responsible gaming by requiring operators to provide resources for individuals seeking help with gaming issues and allowing for voluntary self-exclusion from contests. Operators must engage certified public accountants for independent audits, with a two-year exemption from audit report submissions for new applicants.

Additionally, the bill imposes a ten percent tax on the adjusted gross receipts of operators, which must be reported monthly. It stipulates that any prizes won by self-excluded individuals will be forfeited and donated to problem gaming charities as directed by the department. The act is set to take effect upon passage, aiming to enhance consumer protection and ensure the integrity of the fantasy sports industry.