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This Act creates a Horseracing Integrity and Safety Authority (“Authority”) as a private self-regulatory organization. The Authority must develop rules related to horseracing, including anti-doping, medication control and racetrack safety rules. The FTC is given broad oversight over the Authority. The FTC, after providing an opportunity for public comment, must approve or disapprove any rule proposed by the Authority. Civil sanctions imposed by the Authority for violations of its rules or standards may be appealed to the Commission for review by an Administrative Law Judge and by the Commission. The Authority must also submit guidance it develops to the Commission. In addition, certain practices involving drugs are made unfair or deceptive practices under Section 5(a) of the FTC Act.