SB3710 - Fantasy Sports Consumer Protection Act

• Creates the Fantasy Sports Consumer Protection Act, establishing Illinois Gaming Board regulation of fantasy contest operators with requirements for licensing, background checks, and compliance with anti-money laundering standards.

• Imposes taxes on fantasy contest operators at 10-15% of adjusted gross fantasy contest receipts beginning July 1, 2025, with initial license fees ranging from $10,000 to $1,000,000 depending on operator history and player base.

• Requires fantasy contest operators to implement age verification (minimum 19 years old), geolocation technology, compulsive gambling safeguards, voluntary self-exclusion programs, and annual independent audits by certified public accountants.

• Excludes fantasy contests from the definition of gambling under Illinois criminal law and clarifies that fantasy contests are separate from sports wagering, allowing participants and operators to conduct fantasy contests without criminal penalties.

• Mandates annual supplier diversity reporting by licensees on procurement spending with women, minority, veteran, tribal, indigenous, and disabled-owned businesses, with goals to increase participation over time.