26RS HB 904

Summary of Original Version

Amend KRS 230.210 to outline varied phrases; create new sections of KRS Chapter 230 to authorize the Kentucky Horse Racing and Gaming Corporation to control the conduct of fantasy contest operators; require using geolocation know-how; require fantasy contest operators to implement procedures to stop fraud, abuse, and cash laundering; require notification to the company for a confirmed breach of a sport’s governing physique’s inside guidelines and codes of conduct, conduct that corrupts any consequence, and confirmed unlawful actions; set up licensing necessities for a fantasy contest operator; enable the company to promulgate administrative laws to determine further {qualifications} and necessities for licensing to protect the integrity and safety of fantasy contests; prohibit a license from being issued to an individual that has been convicted of a felony, crime involving unlawful gaming or playing, or any crime involving theft or fraud; require a fantasy contest operator to conduct an unbiased audit; require a fantasy contest operator to be a minimum of 21 years outdated; require the company to analyze all cheap allegations of prohibited conduct; require every fantasy contest operator to incorporate a press release concerning acquiring help with real-money gaming issues on the operator’s web site or cellular software; prohibit a fantasy contest operator from paying any value or award to an individual who’s on the self-exclusion checklist; create a brand new part of KRS Chapter 230 to determine the purse stabilization fund from fixed-odds wagers on horse racing taxes and charges; amend KRS 138.552 to outline “fixed-odds wagering”; impose a 15% excise tax on the adjusted gross income of fixed-odds wagers on stay horse racing; amend varied sections of KRS Chapter 230 to determine the company’s jurisdiction over fantasy contests and fixed-odds wagering; set up the Attorney General’s concurrent jurisdiction with the Commonwealth’s attorneys and county attorneys of this state for the enforcement of KRS Chapter 230 and 238; require the company to determine a course of for the compilation, dissemination, and notification of the self-exclusion checklist; enable the company to authorize further racing dates or amend racing dates; outline “affiliate” and “beneficial interest”; prohibit an affiliation or observe or its affiliate from holding a license to conduct charitable gaming; require associations and tracks to speed up the adoption of applied sciences, replace the totalizator by April 1, 2027, and replace applied sciences associated to pari-mutuel wagering yearly; require associations and tracks to disable all wagering concurrently, however not later than the second the beginning gate is opened for graduation of a race; change the age of entry to sports activities wagering from 18 to 21; enable a observe to conduct fixed-odds wagering on horse racing; require a observe or service supplier to have a compulsory minimal maintain of a minimum of $2,000 per race; outline “proposition bet”; prohibit sports activities wagering licensees and repair suppliers from providing any proposition bets on particular person gamers collaborating in collegiate sporting occasions; prohibit a observe or affiliation from collaborating in or contracting with platforms that provide occasions contracts by prediction markets; prohibit a observe or affiliation from contracting with a service supplier that gives occasions contracts by a prediction market; amend varied sections of KRS Chapter 238 to redefine “chairperson” and “charitable gaming facility”; outline “licensed charitable gaming facility”; set up the ability of the workplace referring to licensure issuance and renewal and imposing fines and penalties; require a background examine for any individual related to an applicant if the company deems it essential; change the distributor and producer licensing payment from $1,000 to $5,000; change the charitable group’s licensing payment from $300 to $1,000; require an applicant to submit an software a minimum of 60 days previous to the expiration of its present license or its first anticipated date of operation; prohibit an individual beneath the age of 21 from collaborating within the play of charitable gaming actions or occasions; improve the restrict for a prize for a person charity recreation ticket from $599 to $1,499; set up an affirmative protection for any prosecution for promoting charitable gaming provides to a minor if the sale was induced by means of false identification; change the charitable gaming facility licensing payment from $2,500 to $5,000; prohibit an proprietor or affiliate of a licensed charitable gaming facility from soliciting licensed charitable organizations or holding a distributor license beneath KRS Chapter 238; enable the company to analyze and have free entry to the workplace or administrative center of a charitable gaming license or facility the place licensed charitable gaming is obtainable; improve the executive high quality for a violation of KRS Chapter 238 from $1,000 to $5,000; enable an individual to use to the company for a keep of the ruling of the discover of violation; require a abstract suspension to stop operations if there may be an imminent danger to the well being and security of the general public or a misappropriation of charitable gaming revenues; repeal and reenact KRS 238.538 to require a licensed charitable group to solely provide the play of digital units at areas licensed by the company and one further location in both the identical county or a county that’s contiguous to the charitable group’s workplace location; require a charitable gaming facility to switch its license first to one of many licensed charitable organizations it’s affiliated with as of January 1, 2026, and subsequent to any licensed charitable group; prohibit a charitable gaming facility from transferring greater than 3 licenses from areas the place individuals 21 years outdated and beneath are permitted to areas the place solely individuals 21 years or older are permitted inside 90 days of the efficient date of this Act; set up the occurrences by which the play of charitable gaming units shall be misplaced and forfeited at an extra location; amend KRS 243.500, 436.480, 525.090, 528.010, and 528.070 to exempt fantasy contests, fixed-odds wagering, and wagering on stay horse races and historic horse races; amend KRS 2.015, 68.182, 91.202, 92.282, and 238.550 to adapt; require the company to current a standing report on the purse stabilization fund not later than November 30, 2027; present that the Act could also be cited because the Wagering Consumer Protection Act.

Index Headings of Original Version

Administrative Regulations And Proceedings – Fantasy contests, regulation, Kentucky Horse Racing and Gaming Corporation

Amusements And Recreations – Charitable gaming, wagering, Kentucky Horse Racing and Gaming Corporation

Business Entities And Organizations – Charitable gaming, regulation, Kentucky Horse Racing and Gaming Corporation

Charitable And Nonprofit Organizations – Licensing, regulation, Kentucky Horse Racing and Gaming Corporation

Gaming And Wagering – Fantasy contests, fixed-odds wagering, charitable gaming, prediction markets, regulation

Gaming And Wagering – Wagering, age of majority

Horses And Horse Racing – Fixed-odds wagering, prediction markets, regulation Kentucky Horse Racing and Gaming Corporation

Horses And Horse Racing – Fantasy contests, regulation, Kentucky Horse Racing and Gaming Corporation

Licensing – Charitable gaming, regulation, Kentucky Horse Racing and Gaming Corporation

Licensing – Fantasy contests, regulation, Kentucky Horse Racing and Gaming Corporation

Licensing – Sports wagering, service supplier, proposition bets

Public Safety – Wagering, age of majority

Short Titles And Popular Names – Wagering Consumer Protection Act

State Agencies – Kentucky Horse Racing and Gaming Corporation, fantasy contests, fixed-odds wagering, regulation

Taxation – Fixed-odds wagering, excise taxes