Governor Mike Pence has only hours left to sign or veto SB339
Reports from the US state of Indiana indicate that the governor, Mike Pence, has just hours to go before a deadline comes into effect passing daily fantasy sports regulatory legislation into state law.
Bill 339 was approved by the House and the Senate earlier this month on votes of 82-12 and 34-10 respectively, leaving the governor with a deadline and three choices: veto the measure, sign it into law, or do nothing and see the bill automatically pass into law when the deadline expires.
Bill 339, authored by Sens. Jon Ford and Ron Alting, provides that a paid fantasy sports game does not constitute gambling for any purpose, and permits paid fantasy sports games to be conducted through an Internet web site maintained and operated by a game operator or on the premises of certain licensed facilities under a contract between a game operator and the owner of the licensed facility.
The bill also makes provision for the regulation of paid fantasy sports games by the paid fantasy sports division of the Indiana Gaming Commission, which is endowed with certain powers and duties for purposes of administering, regulating, and enforcing paid fantasy sports.
The bill's provisions include requirements that players be at least 18 years old, prohibitions on contests based on college or high school sports and sets an initial licensing fee of $50,000 for companies, along with an annual $5,000 fee.
DFS fans claim that over a million Indiana residents play fantasy sports online for cash prizes.
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