Congressman Moves To Lift Ban On Online Gambling - InformationWeek
IoT
IoT
Healthcare // Analytics
News
3/8/2009
05:30 PM
50%
50%
RELATED EVENTS
[Dark Reading Crash Course] Finding & Fixing Application Security Vulnerabilitie
Sep 14, 2017
Hear from a top applications security expert as he discusses key practices for scanning and securi ...Read More>>

Congressman Moves To Lift Ban On Online Gambling

Chairman of the Financial Services Committee, Barney Frank, is determined to repeal a controversial three-year ban on online gambling.

With the Democrats in the U.S. Congress drafting legislation to repeal a controversial three-year ban on online gambling, Rep. Barney Frank, D-Mass., said he will work to see the legislation passed. Frank has been an outspoken critic of the ban from its inception.

"I'm going to be pushing it," he said at a press conference where he presented his agenda for reforming U.S. financial regulation. Opponents of the ban estimate that its elimination could, over a decade, raise more than $50 billion through taxes on online Internet gambling, provided it's regulated.

The controversial legislation to ban online gambling was passed three years ago amid complaints it would be too difficult to regulate and might even be unconstitutional. Various foreign interests have complained that the existing law could be a violation of World Trade Organization regulations and various countries have initiated complaints with the WTO. In London, the Remote Gambling Association has complained that U.S. gambling interests are free to operate while European and other foreign countries are prosecuted under the provisions of the legislation that bans online gambling.

"The existing legislation is an inappropriate interference on the personal freedom of Americans and this interference should be undone," Frank said earlier, as he stepped up his campaign against online gambling legislation called the Internet Gambling Regulation and Enforcement Act of 2007.

Frank is the chairman of the Financial Services Committee.


InformationWeek has published an in-depth report detailing the views of more than two dozen industry leaders on what should be top of mind for President Obama's CTO. Download the report here (registration required).

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
How Enterprises Are Attacking the IT Security Enterprise
How Enterprises Are Attacking the IT Security Enterprise
To learn more about what organizations are doing to tackle attacks and threats we surveyed a group of 300 IT and infosec professionals to find out what their biggest IT security challenges are and what they're doing to defend against today's threats. Download the report to see what they're saying.
Register for InformationWeek Newsletters
White Papers
Current Issue
2017 State of IT Report
In today's technology-driven world, "innovation" has become a basic expectation. IT leaders are tasked with making technical magic, improving customer experience, and boosting the bottom line -- yet often without any increase to the IT budget. How are organizations striking the balance between new initiatives and cost control? Download our report to learn about the biggest challenges and how savvy IT executives are overcoming them.
Video
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Flash Poll