AB 1437 Summary

• Establishes the Internet Fantasy Sports Games Consumer Protection Act, requiring entities to obtain a license from the Department of Justice before offering internet fantasy sports games in California

• Licensed operators must verify players are at least 21 years old, physically located in California, and implement data security standards; operators prohibited from offering games based on collegiate or amateur athletic events

• Creates the Fantasy Sports Fund, continuously appropriated to the Department of Justice, funded by annual regulatory fees from licensed operators; operators also pay one-time license fees and quarterly fees based on a percentage of gross income from California operations

• Licensed operators must hold player funds in trust, prohibit multiple accounts per player, restrict advertising to minors, establish self-exclusion procedures, and prohibit officers, directors, employees, and contractors from playing their own games

• Amends Penal Code Section 337a to exempt authorized internet fantasy sports games from existing illegal gambling prohibitions; cities and counties prohibited from regulating, taxing, or contracting regarding matters governed by this chapter