The legislation in Vermont is similar in scope to fantasy sports laws passed in other states. It lays out permitting requirements with a registration fee of $5,000. The law also prohibits employees of daily fantasy sports companies from participating in the games and sharing information with third parties.
It was the disclosure than an employee of one DFS company won money on another DFS company site that started the outcry for regulation of the industry. Since then, the Fantasy Sports Trade Association (FSTA) Legislation Committee has work with various states attorney generals and legislatures to help them introduce bills legalizing daily fantasy sports.
The Vermont legislation comes on the heels of two other states, Arkansas and Mississippi, which also passed fantasy sports legalization laws in their respective states in recent months. The FSTA Legislation Committee is also working with several other states that are considering the introduction of a bill or preparing to vote on existing bills.
The State Legislature of New Jersey has a current bill that was passed by their Appropriations Committee that could be voted upon at some point in the near future. Ohio passed an amendment to their daily fantasy sports law to change the current three-year, $30,000 fee to a maximum cap instead. The final fee structure will come out of a committee. The Minnesota legislature has a bill before it that sets out an annual fee of $1,500 without any additional taxes. The bill was passed by a committee and is headed for a house vote.
Not all of the news has been positive, though. A bill before the State of Texas legislature was held up in committee despite bipartisan support and public support. In Florida, three different bills that had fantasy sports language in them were never acted upon because they were part of broader measures, which didn’t have support for the actions as a whole. In Ohio, a bill that passed in the House was never voted upon in the Senate due to limits on the number of bills allowed. The FSTA Legislation Committee expects it to come to a vote in 2018.