Online Poker Bust Ups-the-Ante on Internet Gambling Regulation

WASHINGTON, DC - As reported by The Wall Street Journal: "Prosecutors'  seizure of $34 million belonging to online poker players ups the ante in a long-running struggle between the Justice
The Senate is reviewing a bill that would legalize some forms of Internet gambling.  Department, which wants to shut down the online-gambling industry, and members of Congress who want to make it legal.

The government has used several laws to prosecute online gambling. Critics claim those laws are unclear and are sometimes contradicted by a patchwork of state laws.

Last month, Rep. Barney Frank (D., Mass.), chairman of the House Financial Services Committee, proposed legislation to legalize and regulate Internet gambling so revenues could be taxed and consumers would have some protections..."

"The seizures by the U.S. attorney have sparked outrage among online-poker enthusiasts. "I'm screaming mad," said Mike Markee, an online-poker player from Flint, Mich., who said he can't afford most other forms of entertainment. Mr. Markee said he has spent only $123 in the past two months playing Internet poker at least two hours each day..."