Texas HB3980 regulates fantasy contests, requiring occupational licenses, imposing penalties, and authorizing fees and taxes.

Texas HB3980 establishes regulations for fantasy contests, mandating occupational licenses for operators. It requires operators to implement procedures to prevent fraud, abuse, and money laundering. The Texas Lottery Commission is tasked with regulating operators, investigating prohibited conduct, and establishing compulsive and problem gaming standards. The bill imposes administrative penalties, authorizes fees, and requires a tax on operators. It also mandates that operators include statements about gambling problems on their platforms and in marketing materials.

Texas HB3980 regulates fantasy contests, requiring occupational licenses, imposing penalties, and authorizing fees and taxes.

Texas HB3980 establishes regulations for fantasy contests, mandating occupational licenses for operators. It requires operators to implement procedures to prevent fraud, abuse, and money laundering. The Texas Lottery Commission is tasked with regulating operators, investigating prohibited conduct, and establishing compulsive and problem gaming standards. The bill imposes administrative penalties, authorizes fees, and requires a tax on operators. It also mandates that operators include statements about gambling problems on their platforms and in marketing materials.