Virginia Enacts Law Imposing 10 Percent Tax on Fantasy Contests

The Virginia Governor signed a law to transfer the regulation of fantasy contests from the Department of Agriculture and Consumer Services to the Virginia Lottery Board, establishing a comprehensive regulatory framework under Title 58.1, Chapter 42 of the Code of Virginia. The law creates a permit system for fantasy contest operators, requiring a $50,000 initial application fee and imposing a 10 percent tax on fantasy contest revenue, with 2.5 percent allocated to the Problem Gambling Treatment and Support Fund. [H.B. 145, enacted 04/13/26]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.