Barney Frank’s H.R. 2267 was approved on July 28 by the House Financial Services Committee. Now we just wait for the full-scale congressional voting.
Written by Sewell Chan at the New York Times: "On Wednesday, the House Financial Services Committee approved a bill that would effectively legalize online poker and other nonsports betting, overturning a 2006 federal ban that critics say merely drove Web-based casinos offshore, backed by banks and credit unions but have divided casinos and American Indian tribes — are far from becoming law. A bill to legalize online poker sponsored by Senator Robert Menendez, Democrat of New Jersey, has not yet had a hearing. The Congressional timetable has little spare room before the midterm elections, and the Obama administration has not taken a position."
The bill, if passed in Congress, will create a strict licensing system for internet poker rooms doing business in the U.S., as well as implementing software standards and limits on what players can bet or lose in a given time period.
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