Quoted: A person participating in the event, if he is carrying a gun, rifle, or pistol with the permission of the owner, lessee, or person or organization sponsoring the event; and
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A person participating in the event would be one of the dealers, etc., not someone who is showing up to buy some bullets.
If we interpret the quotation you cite as if those paying admission are participants, then this law is basically meaningless.
Even if you are correct (in what I assume you are trying to say) no one sponsoring the event has given ME permission to bring my weapons.
ETA: I read this part of the exemption clause to cover things like the color guard at a sporting event - people participating, but not as "security guards" who are carrying weapons (ceremonially) as part of their participation in the event.
Otherwise, the exception clause would read "A person carrying a gun, rifle, or pistol with permission of . . . "