MI HB4308

Establishes the "Fantasy Contests Consumer Protection Act" regulating fantasy contest operators in Michigan and requiring licensure through the Michigan Gaming Control Board.

Imposes an 8.4% tax on monthly fantasy contest adjusted revenues, with collected funds deposited into a newly created fantasy contest fund to cover regulatory costs and excess funds directed to the state school aid fund.

Requires licensed operators to implement consumer protections including age verification (minimum 18 years), segregated player account deposits or reserves, prohibition on employee participation, and restrictions on highly experienced players in certain contests.

Exempts private residential contests (limited to 15 players and $10,000 annual entry fees), existing casino licensees, and federally recognized Indian tribes from licensing requirements.

Establishes criminal penalties for unlicensed operation: misdemeanor for first/second violations (up to 1 year imprisonment and $10,000 fine) and felony for subsequent violations (up to 5 years imprisonment and $50,000 fine).