Except as provided in subsection (b) of this section, the Commission may: adopt regulations and conditions to govern racing and betting on racing in the State; and approve or disapprove: prices that a licensee may set for admission to a race, a service performed, or an article sold at a track; and the size of the purse, reward, or stake to be offered at a race. The Commission may not adopt regulations that allow: racing a breed of horse not now authorized by law; or holding currently unauthorized: intertrack betting; off-track betting; or telephone betting other than telephone account betting.