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Committee backs bill to regulate fantasy contests and impose fees on operators
Summary
Sen. Evan's SB129 closes a regulatory loophole for fantasy contests, imposes a $50,000 application fee, a 10% operator tax (95% to general fund, 5% to problem-gambling support), and creates consistent permitting requirements; operators DraftKings and PrizePicks testified in support and the subcommittee recommended reporting to Finance (7–0, 1 abstention).
Sen. Evan told the subcommittee SB129 will close a gap in state law that allowed some operators to run single‑player, house‑backed contests that resemble sports betting. “Fantasy sports is supposed to be that you're picking players against your friends,” Evan said, explaining the bill clarifies the definition of fantasy contests, standardizes permitting and imposes financial safeguards.
SB129 creates a $50,000 application fee and directs $50,000 to the problem‑gaming treatment and support fund; it also imposes a 10% tax on operator contest revenue with 95% of that tax to the general fund and 5% to the problem‑gambling fund. John Mormon with DraftKings testified in support: “Here in support of the legislation,” saying his firm was available to answer questions. Travis Blankenship of PrizePicks also voiced support.
The committee voted to report SB129 and refer it to Finance (roll call reflected 7 ayes, 0 no, 1 abstention). The subcommittee record shows a recommendation to report SB129; the bill will be scheduled for the Finance Committee's consideration next.
