Sen. Ferrell Haile filed Senate Bill 1992 last week, proposing a penalty for anyone “who engages in conduct intended to influence the outcome of an event while the person or another is a party to a contract with a prediction-market by which the person will benefit, directly or indirectly, from the occurrence of the outcome.” SB 1992 amends Tennessee code to make any person who violates SB 1992 guilty of a Class E felony.
Under Tennessee law, a Class E felony subjects offenders to a prison term that ranges between one and six years, with fines that can reach up to $3,000. A Class E felony is the state’s lowest felony class and includes white color or fraud-related crimes. Crimes also associated with Class E felonies include theft of property and drug and gun possession.
Tennessee regulator’s stance on sports event contracts
Haile has filed SB 1992 as the ..
