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Minnesota senators propose up to 11 mobile sports betting licences

Regulation

Minnesota senators introduced SF 4139 on 4 March, proposing statewide mobile sports betting with up to 11 operator licences reserved for eligible tribal casino owners. The bill would set a 22% tax on online sports betting net revenue and participation fees, while exempting wagers placed on Indian lands from state taxation.

Tribal operators and platform providers would need to assess the proposed licensing limits, tax and revenue-sharing framework.

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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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