Reid Wants to Legalize Online Poker

Despite opposing online gambling in the past, Senate Majority Leader Harry Reid now supports a bill to legalize poker playing on the Internet, according to the Wall Street Journal. While Nevada casino companies argue that the bill would provide tax revenue for federal and state governments, Republicans say it takes advantage of the weak and the vulnerable. If Reid has enough sway to pass the measure, here's what might happen:

The legislation would overturn a bill passed in 2006 that bans financial institutions from processing online-gambling transactions. ...

According to the draft of the bill reviewed by The Wall Street Journal, Mr. Reid's office is considering language that would allow only existing casinos, horse tracks and slot-machine makers to operate online poker websites for the first two years after the bill passes, which could limit the ability of other companies to enter the market.

The bill would also outsource oversight to state regulators, another move supported by existing casinos that don't want to see the federal government become overly involved in regulating their industry.

The bill as drafted would send taxes on wagers to both federal and state governments.

Read the full story at the Wall Street Journal.
Presented by

Annie Augustine is a fellow at AtlanticLIVE.

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register with Disqus.

Please note that The Atlantic's account system is separate from our commenting system. To log in or register with The Atlantic, use the Sign In button at the top of every page.

blog comments powered by Disqus

Video

A Stop-Motion Tour of New York City

A filmmaker animated hundreds of still photographs to create this Big Apple flip book

Video

The Absurd Psychology of Restaurant Menus

Would people eat healthier if celery was called "cool celery?"

Video

This Japanese Inn Has Been Open For 1,300 Years

It's one of the oldest family businesses in the world.

Video

What Happens Inside a Dying Mind?

Science cannot fully explain near-death experiences.

More in Politics

Just In