MN HF767

Establishes a nine-member Sports Wagering Commission with authority to regulate and license sports wagering at casinos, racetracks, and online platforms beginning 12 months after the first bookmaker license is issued.

Permits licensed bookmakers to accept wagers on sporting events approved by the commission, with minimum cash reserves of $25,000 and bonding requirements to protect wagerers and state interests.

Imposes a 6% tax on sports wagering net revenue from in-person wagers at casinos and racetracks, and an 8% tax on online wagers; income from sports wagering is not subject to other state income taxes.

Establishes criminal penalties including misdemeanors and felonies for unlicensed wagering, wagering by participants in sporting events, wagering using nonpublic information, and wagering by minors; felony sentences range up to five years imprisonment or $10,000 fines.

Creates data privacy protections classifying individual wagerer information as private data and prohibiting sale of personal wagering data; requires commission reports to legislature on licensing, revenue, and enforcement activities.