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Colorado senators propose new sports betting and advertising restrictions

Regulation

Colorado senators introduced Senate Bill 26-131 to strengthen consumer protections in sports betting and gambling advertising, according to the report. The proposal would restrict deposits, promotional messages, advertising times, proposition bets and credit-card deposits; the Colorado Limited Gaming Control Commission could impose penalties of up to $25,000 for violations of specified prohibitions.

Operators may face limits on deposits, promotions, advertising, proposition bets and payment methods if the bill is enacted.

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Regulation

New Jersey senators propose permits and taxes for prediction markets

New Jersey senators Nicholas Scutari and Paul Sarlo introduced a bill to regulate prediction markets and require operators to obtain state permits. The proposal would add a 10% tax surcharge to prediction-market trades, including sports-related contracts, and set a $5 million initial licensing fee for firms offering sports contracts; it has been referred to the Senate Budget and Appropriations Committee.

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