This Act may be cited as the Providing Responsible Oversight and Transparency and Ensuring Collegiate Trust for Student Athletes Act or the PROTECT Student Athletes Act.

Congress finds the following: (1) The practice of sports betting, including proposition bets involving the performance of student athletes, constitutes a substantial part of interstate commerce. (2) Sports betting activities are conducted across State lines by various means, including online platforms and physical betting establishments, that involve participants from multiple States. (3) The economic impact of sports betting on intercollegiate sports extends beyond State borders and affects the national economy, including through revenue relating to advertising, broadcasting rights, and other commercial activities linked to intercollegiate sports. (4) Ensuring the welfare of student athletes is a national concern and regulation of betting practices, particularly those involving the performance of student athletes, is essential to safeguard the integrity, well-being, and educational environments of such athletes. (5) The Federal Government has the authority under the Commerce Clause of the Constitution to regulate interstate commerce and, given the interstate nature of sports betting, Federal regulation is warranted to maintain consistent standards and protect the interests of student athletes.

(a) Prohibition No individual or entity engaged in the business of betting or wagering may accept any bet or wager that includes a covered prop bet. (b) Enforcement by Federal Trade Commission (1) Unfair or deceptive acts or practices A violation of this section shall be treated as a violation of a regulation under section 18(a)(1)(B) of the Federal Trade Commission Act (15 U.S.C. 57a(a)(1)(B)U.S. Code — Title 15, Section 57a(a)(1)(B)View official source on GovInfo) regarding unfair or deceptive acts or practices. (2) Powers of Commission The Federal Trade Commission shall enforce this section in the same manner, by the same means, and with the same jurisdiction, powers, and duties as though all applicable terms and provisions of the Federal Trade Commission Act (15 U.S.C. 41 et seq.U.S. Code — Title 15, Section 41 and followingView official source on GovInfo) were incorporated into and made a part of this section. Any person who violates this section shall be subject to the penalties and entitled to the privileges and immunities provided in the Federal Trade Commission Act. (c) Definitions In this section: (1) Covered prop bet The term covered prop bet means a bet or wager on the occurrence or non-occurrence, with respect to an intercollegiate sporting event, of an action or achievement by a student athlete that may or may not have a direct bearing on the final result of any such sporting event. (2) Intercollegiate sporting event The term intercollegiate sporting event means a sporting event played at the collegiate level for which eligibility requirements for participation by a student athlete are established by a national association for the promotion or regulation of college athletics. (3) Student athlete The term student athlete means an individual who engages in any intercollegiate sporting event.