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Rep. Barney Frank's Online Gambling Legislation Hearings Set

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Representative Barney Frank has been attempting to overturn the Unlawful Internet Gambling Enforcement Act since it was created in late 2006, and Frank may have his best opportunity to do so in the next couple of months. The process will begin this Friday when Frank's House Financial Services Committee holds a hearing on two Bills proposed by Frank.

Last year, Frank unveiled two pieces of legislation. The first was the Reasonable Prudence in Regulation Act, and the second was the Internet Gambling Regulation, Consumer Protection, and Enforcement Act of 2009.

Frank's goal is to have legislators overturn the UIGEA and set up a regulates system of Internet gambling in the US. The representative from Massachusetts has a party majority in Congress, which may give him his best chance to pass the new legislation.

Time is not on Frank's side. The UIGEA rules were set to take affect back in December, but Frank and other lawmakers asked for, and received, a delay in the publishing of the rules. Now Frank has until June to pass his legislation.

On board are sixty-six co-sponsors for HR 2267. If lawmakers approve the Bill, they would then be saddled with the responsibility of setting up the regulated online gambling. That would most likely be a lengthy process that could take years to complete.

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