Bill
Bill > S3466
NJ S3466
NJ S3466Permits wagering by business entities with horse racing and sports pool operators.
summary
Introduced
02/12/2026
02/12/2026
In Committee
02/12/2026
02/12/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
This bill would permit wagering by business entities with horse racing or sports pool operators. Business entity wagering functions similar to a mutual fund whereby funds pooled together from different investors are then used by fund managers to wager on various sporting events in an attempt to produce a profit for investors. The business entity's gains or losses would be shared by each investor in proportion to his or her equity share. Business entities would not be permitted to wager on casino games. Business entities that choose to establish a wagering account with a horse racing or sports pool operator would be required to provide certain documentation to the operator showing that all those associated with the business entity are over 21 years of age and that the business entity has been properly formed, along with any other documents required by the Casino Control Commission, the Division of Gaming Enforcement, the Racing Commission, or a horse racing or sports pool operator. A business entity would also be required to maintain originals or copies of records received from the operator for all wagers placed, maintain an account with a bank or other financial institution in the State, and make the above records available for review by the Casino Control Commission, the Division of Gaming Enforcement, and the Racing Commission. It would be unlawful for any person solely, or in conjunction with others, to knowingly distribute funds to a designated individual or equity owner who is not disclosed to the horse racing or sports pool operator, distribute revenue from a business entity's wagering activities to an individual that has not been disclosed to the horse racing or sports pool operator, wager money on behalf of an individual who has not been disclosed to the horse racing or sports pool operator, or submit false information required by the bill. Under the bill, violations would be a second degree crime punishable by fines, imprisonment, or both.
AI Summary
This bill permits business entities, such as corporations or partnerships, to engage in wagering with horse racing or sports pool operators by establishing a wagering account, similar to how a mutual fund pools investor money for investment. To do so, these business entities must provide extensive documentation to the operator, including personal information for all equity owners and key personnel to ensure they are over 21 and that the business is properly formed, and must maintain records of all wagers and a dedicated bank account in the state. The bill prohibits distributing wagering profits or revenue to undisclosed individuals and making wagers on behalf of undisclosed persons, with violations classified as a second-degree crime punishable by fines and imprisonment. The Casino Control Commission, in conjunction with other gaming and racing authorities, will establish rules to implement these provisions, which will take effect 180 days after enactment.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee (on 02/12/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2026/S3466 |
| BillText | https://pub.njleg.gov/Bills/2026/S3500/3466_I1.HTM |
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