Barney Frank Internet Gambling Bill Aims at Legalization

Barney Frank Internet Gambling Bill Aims at Legalization

“A Step in the Right Direction,” Analyst Says

Washington, DC, May 6, 2009 –  A bill to legalize Internet gambling was put forward today by powerful House Democrat Barney Frank (Mass.), who chairs the House financial services committee.

Frank’s plan would not only legalize but also tax and regulate Internet gambling. An analyst at the Competitive Enterprise Institute praised the portion of the bill that legalizes Internet gambling.

The proposed legislation, the “Internet Gambling Regulation Consumer Protection & Enforcement Act” would overturn the current Unlawful Internet Gambling Enforcement Act (UIGEA) and replace it with a federal system for regulating gambling.  Current law attempts to ban Internet gambling by preventing financial institutions (such as banks, credit unions, and Paypal) from processing financial transactions related to gambling. 

“Barney Frank’s outspoken position that American adults should be able to do in their own homes, with their own money, what they wish is laudable,” says CEI Policy Analyst Michelle Minton. “While Frank’s legislation isn’t perfect, it is definitely a step in the right direction—that is, a step away from the current law.

“Government has no legitimate role in banning Internet gambling, which is a voluntary private activity,” Minton said.