Bill unveiled to reverse US online gambling ban

Legislation aimed at reversing a 3-year-old ban on Americans placing online bets was introduced on Wednesday by House Financial Services Committee Chairman Barney Frank (D-MA). The Internet Gambling Regulation Consumer Protection & Enforcement Act would establish a federal regulatory and enforcement framework for online gaming. Chairman Frank said the bill would give the Treasury Department the authority to establish regulations and license Internet gambling operators. The Treasury would also have the authority to revoke or terminate the license of any operator that violates the law. Enforcement actions could also include fines.