Sports wagering entity-conditional operating permit.

HB 126 creates a new "conditional operating permit" for sports wagering companies in Wyoming that don't yet meet full regulatory requirements. To obtain this permit, entities must pay fees, submit financial details (including cash reserves and betting volume), pass background checks, and avoid endangering patrons or the industry. During the two-year permit period, companies must submit bi-weekly risk reports and quarterly financial updates to the Gaming Commission. After meeting requirements, they can apply for a full "sports wagering operator permit" (requiring a $60,000 fee) without needing to operate in three or more states, unlike standard qualified gaming entities. This bill directly affects sports betting companies seeking to operate in Wyoming under a phased regulatory path.