MS HB967

Establishes licensing and regulatory framework for fantasy contest operators through the Mississippi Gaming Commission, requiring operators with 100+ players to obtain a license and pay a $5,000 application fee.

Imposes an 8% tax on operators' net Mississippi revenue from fantasy contests, with quarterly reporting and payment requirements enforced by the Department of Revenue.

Requires operators to implement safeguards including entry limits (1-3 entries for smaller contests, up to 3% or 150 entries for contests over 100 players), age verification (18+ for online, 21+ for in-person), and identification of highly experienced players.

Prohibits fantasy contests based on collegiate, high school, or youth sports; restricts employees and insiders from competing; and requires segregated player funds or reserves to protect player account balances.

Establishes disciplinary procedures for violations including civil penalties up to $1,000 per violation (maximum $50,000), with hearings before a commission examiner and potential license suspension or revocation for non-compliance.