Colorado lawmakers have approved new legislation aimed at tightening oversight of the state’s growing sports betting market.

Senate Bill 131 focuses on consumer protections as officials respond to concerns about problem gambling since the industry launched in 2020. The bill introduces limits on how often users can deposit money into betting accounts, restricting bettors to five deposits within a 24-hour period.

Lawmakers also moved to rein in advertising practices. The bill places restrictions on certain types of marketing, including push notifications and promotional messages that encourage users to place bets or fund their accounts. Additional limits are expected to reduce exposure to younger audiences.

A proposed ban on prop betting was ultimately removed from the final version after industry pushback and concerns about potential revenue loss. Instead, the legislation centers on broader safeguards.

The bill also strengthens enforcement measures, including harsher penalties for operators that allow underage betting. It adds new data tracking requirements to help regulators better monitor betting behavior across the state.

The Senate passed the bill by a 20 to 14 vote, sending it to the House for further consideration.

Colorado has become one of the fastest-growing sports betting markets in the United States, generating billions in handle annually. That rapid growth has led to increased scrutiny from lawmakers looking to balance expansion with responsible gambling protections.