Two of the more vocal critics of the sports betting industry on Capitol Hill outlined legislation Thursday, which if passed into law would put into place sweeping new federal regulations on gambling companies, including requiring them to set limits on what amount sports bettors wager and how often they can place bets.
The Supporting Affordability and Fairness with Every Bet Act — or SAFE Bet Act — proposed by Senator Richard Blumenthal (D-CT) and Representative Paul Tonko (D-NY) would establish a nationwide ban on sports betting, requiring the 38 states where sports wagering has already been legalized to go through a new application process with the U.S. Justice Department.
