Adopt the Fantasy Sports Consumer Protection Act and provide a gambling exception for conducting or participating in fantasy contests

LB 342 establishes a regulatory framework for fantasy sports contests in Nebraska by creating the "Fantasy Sports Consumer Protection Act." It defines a qualifying fantasy contest as a skill-based game requiring an entry fee, where prizes are determined by participants' knowledge of real-world athletic performance statistics - not team outcomes or single events. The bill requires operators to obtain licenses from the Department of Revenue, implement fraud prevention measures, and pay fees/taxes, while exempting these contests from standard gambling laws. It directly affects fantasy sports operators and participants by setting clear rules for eligibility, operator licensing, and participant protections like self-exclusion options.