Whether the United States can legally regulate online gambling is a controversial issue. In the 1990s, Congress first introduced legislation to ban online gambling. The Internet Gambling Prohibition Act was introduced in the Senate. However, the legislation was subsequently defeated.
Since then, a number of similar bills have been introduced in the House. The House’s most recent proposal would impose a licensing requirement on internet gambling facilities. It would also modify the Unlawful Internet Gambling Enforcement Act (UIGEA). The legislation is known as HR 2046.
The Kahnawake Gaming Commission has issued gaming licences to many online casinos. The commission attempts to keep the operations of these companies fair. A licensed gambling business must operate for at least two days to be deemed legitimate.
Gambling includes a variety of activities, including pool-selling, lotteries, betting, casinos, and poker. It also includes maintaining dice tables, slot machines, and roulette wheels. Gambling is a lucrative industry. Some people develop a compulsive gambling habit that can be difficult to overcome.
Some states have allowed online gambling, while others have prohibited it. A Frost & Sullivan report reveals that in 1998, online gambling revenue topped $830 million. This is the highest revenue figure in the US gambling industry. In the second quarter of 2021, US gambling revenue hit a record $13.6 billion.
In April 2007, Congressman Barney Frank introduced HR 2046, which would modify UIGEA. It would require internet gambling facilities to be licensed by the director of the Financial Crimes Enforcement Network. It would also ban the use of financial instruments in illegal Internet bets.