Federal legislation introduced to regulate iGaming

A New York congressman introduced federal legislation on Thursday to legalize Internet wagering by establishing a system of licensing and regulation at the federal level.

The bill, dubbed the “Internet Gambling Regulation, Consumer Protection and Enforcement Act of 2013,” was introduced by Rep. Peter King, R-N.Y. and goes beyond online poker. The legislation attempts to address the “regulatory uncertainty surrounding online gambling” following the U.S. Department of Justice’s reinterpretation of the Federal Wire Act in December 2011.

The ruling made all types of online gaming, other than sports wagering, legal.

Under the proposed legislation, a federal regulatory structure would be established, while grandfathering any existing activity that is limited to the geographic confines of a state, such as laws in Nevada, Delaware, and New Jersey.

In a statement, King said the current state-by-state regulatory situation is not in the best interest of the American people.

“A common federal standard will ensure strong protections for consumers, protect against problem and underage gambling, and make it easier for businesses, players, lawmakers, and regulators to navigate and freely participate,” King said.