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Georgia senators propose gambling referendum and 20% tax

Regulation

Four Georgia state senators introduced Senate Resolution 131, proposing a constitutional amendment and statewide referendum on sports betting and casino gambling. The measure would set a 20% tax on gambling income and require at least eight casino licences; it needs two-thirds support in both legislative chambers before voters could consider it. The Senate must pass the resolution by 6 March to keep it in consideration during the session.

Operators and investors must weigh the proposed tax and licensing framework against the legislative and voter approvals still required.

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Regulation

US senators propose restricting sports contracts on prediction markets

US senators have introduced a bipartisan bill that would prohibit prediction-market contracts on sporting events and casino-like activities while allowing contracts with economic purposes such as hedging, according to the report. Senator Adam Schiff said the Commodity Futures Trading Commission lacks the staff and technical capacity to oversee the sector. Industry representatives dispute claims that the platforms should be treated as gambling.

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