Daily fantasy sports operators got a rare opportunity to celebrate on Wednesday as Virginia legislators approved a bill to regulate DFS.

On Wednesday, the Virginia General Assembly approved SB 646, aka the Fantasy Contests Act, which now requires only Gov. Terry McAuliffe’s signature to become law. The vote marks the first time a pro-DFS bill has progressed to this stage since the industry imploded last October.

SB 646 requires DFS operators to pay a $50k registration fee, while registered DFS sites must ensure that all their players are over 18 years of age and that player funds are segregated from operating capital. Operators must also submit to an annual audit by the Department of Agriculture and Consumer Services.

SB 646 exempts DFS from the state’s list of illegal gambling no-no’s, but the bill’s language arguably authorizes other types of ‘skill-based’ contests involving sporting events – such as prop bets – that could lead the federal government to conclude that the state is in violation of the 1992 PASPA sports betting prohibition. But for the moment, anyway, it’s progress.