The "Fantasy Sports Consumer Protection Act" introduces a comprehensive regulatory framework for fantasy contest operators in the state, establishing Chapter 97 in Title 5 of the General Laws. The bill empowers the Department of Business Regulation (DBR) to oversee these operators, ensuring they comply with new operational standards, including measures to prevent fraud, underage participation, and money laundering. Key provisions include the requirement for operators to be licensed, with stringent application processes that involve criminal history checks for owners and key personnel. The bill also mandates the use of geolocation technology to confirm that participants are located within the state and prohibits the department from adopting rules that could limit the types of fantasy contests offered.

Additionally, the legislation imposes a ten percent tax on the adjusted gross receipts of fantasy contest operators, effective from July 1, 2025, and requires operators to submit monthly tax returns. To address compulsive gaming, the bill mandates that operators provide resources for individuals seeking help and allows for voluntary self-exclusion from contests, with any winnings by self-excluded individuals forfeited to problem gaming charities. The act emphasizes transparency, accountability, and responsible gaming practices, aiming to protect consumers while promoting the integrity of the fantasy sports industry.