Two years post-legalization of sports betting, Kentucky legislators have enacted fresh regulations that increase the minimum betting age and restrict the types of wagers allowed.
The Republican-majority Kentucky House voted 79-15 on Thursday, endorsing House Bill 904, which establishes a minimum age of 21 for sports betting and bans proposition bets concerning Kentucky college athletes. Some members of the Republican party expressed their opposition to this legislation.
Rep. Michael Meredith, R-Oakland, the architect of the state’s 2023 sports betting law, presented the bill after extensive consultations. Earlier this month, he conveyed to a legislative committee that the “vast majority of citizens” are in favor of elevating the legal betting age.
“I firmly believe that if you’re 18 and considered an adult in every other context, you should be treated as an adult in all respects,” stated Meredith earlier this month. “Public sentiment favors this age increase, so we’ve acted on it, notwithstanding my personal reservations.”
Proposition bets pertain to wagers made during a game regarding particular player performance or events. According to the bill, such wagers will be prohibited for individual college athletes in Kentucky.
House Bill 904 also introduces licensing and regulatory criteria for fantasy sports operators in Kentucky, and authorizes horse racing venues to provide fixed-odds betting alongside traditional pari-mutuel betting.
The bill prohibits horse racing tracks, sports betting entities, and fantasy sports firms in Kentucky from engaging in prediction markets, which enable users to wager on the outcomes of forthcoming events.
“Prediction markets have begun to encroach upon the betting sphere, including wagers on sports events and prop bets regarding athletes,” Meredith remarked. “There’s been significant dialogue on a national scale, spearheaded by various states, regarding the regulatory framework for these markets. It remains unclear how states might handle sports-related event contracts.”
Companies like Kalshi and Polymarket are gaining momentum across the United States, with some sportsbooks rolling out akin options.
As more states adopt legalized sports wagering, lawmakers are scrutinizing limits on prop bets, with critics indicating potential correlations to gambling addiction and harassment of players.
House Bill 904 is set to be reviewed by the Kentucky Senate. To become law, this measure must receive approval before the conclusion of the legislative session.