Quote:
Originally Posted by PokerXanadu
This bill, as it is currently written, means nothing. It does not change any federal statutes, nor add any new ones. Legislative bills need language to do one or both of those or they will not change or add to the current laws. This bill does not have such language. It is either a political show or a placeholder for real legislative language.
Something I shared in NVG:
Actually, it is designed to look like it does nothing, like the bill to defund President Obama's teleprompter. However, it's a true wolf in sheep's clothing.
It would do one thing immediately. It would push financial institutions away from processing any online gaming transactions. These businesses are very risk-averse when it comes to government compliance. Expect them to take new legislation on gaming very seriously.
Next, it opens the door to revisiting the 2011 DoJ findings on the scope of the Wire Act. It does this by definition, as it's a new law. The DoJ does not HAVE to open a new review, but this bill will give them the ability to choose to do so.
How worried should we be about the next attorney general? Well, Sheldon Adelson has a letter signed by eight state AGs in opposition to the 2011 DoJ findings. So, it's not like the next president would have to impose a litmus test on his or her nominee. Rather, it would simply be a matter of choosing from the list.
Speaking of that nominee, he or she will go before the Senate for confirmation, where the last few nominees have been asked about Internet gaming by online gaming opponents like Sen. Lindsey Graham. You can expect the next AG to go through that. This, plus new legislation, could leave this person feeling empowered by Congress to root out what is being touted as lawmaking by the Obama administration.
None of this would force states to shut down online poker. They could go to court, but it would be problematic.