MT SB551

Legalizes and regulates internet fantasy sports contests in Montana, requiring service providers to obtain a license from the Department of Justice with an initial fee of $5,000 for up to 3 years and annual renewal fees of $1,000-$5,000 depending on revenue

Imposes a 6.75% tax on internet fantasy sports contest adjusted revenues, with proceeds deposited into the general fund

Requires players to be at least 18 years old, prohibits credit card payments for contest entries, and mandates operators verify player age and display problem gambling resources

Establishes consumer protections including segregation of player funds, disclosure of entry limits, and restrictions preventing employees, household relatives, and real-world athletes/coaches from participating in relevant contests

Grants the Department of Justice authority to conduct background checks on applicants, investigate violations, assess fines up to $1,000 per violation (maximum $10,000 per occurrence), and suspend or revoke licenses