Although legalized online gambling has already arrived in the U.S., efforts to reinstate the ban are still going strong. Some of those most vocal about their opposition are prominent lawmakers, including Sen. Lindsey Graham (R-SC) and Rep. Jason Chaffetz (R-Utah).
Other opponents are bit more surprising, such as Las Vegas Sands CEO Sheldon Adelson.
Collectively, their goal is not only to restore the Wire Act and reinstate the online gambling ban, but they are raising substantial funds for their efforts to undo the burgeoning regulated online gambling market. While only 3 states (Nevada, New Jersey, and Delaware) have legalized online gambling, at least 7 other states are seriously weighing its benefits, and plan to roll out their new online gambling programs within a few years – if not sooner.
At this point in the game, if the Wire Act is reversed many jobs will be lost and multiple millions in spending to prepare for the new regulated online gambling industry will be lost. Nonetheless, those in opposition say that the downside of reversing the regulatory momentum of online gambling is far less damaging than the moral repercussions and gambling addiction that they believe this industry will engender.
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