The Oregon Racing Commission may:
(1) Adopt rules:
(a) To regulate exchange wagering in this state, including the manner in which exchange wagers may be accepted and the requirements for a person to participate in exchange wagering;
(b) Regarding the issuance, renewal, revocation and suspension of exchange wagering licenses;
(c) To require an annual audit of an exchange wagering licensee’s books and records pertaining to exchange wagering; and
(d) As otherwise necessary to carry out the provisions of ORS 462.301 to 462.340; and
(2) Require licensure or registration of the officers or directors of an exchange wagering licensee.