Rep. Barney Frank Portrait

Rep. Barney Frank

Congress is set to adjourn Oct. 8, but congressman Barney Frank is ‘Not Optimistic’ About the chances of HR 2267, the new proposed internet gambling bill, to pass before the midterm elections. The current backlog of legislation and time constraints are the main reasons he mentioned.

Is it just lowering expectation or a real grim future for the new gambling regulation?

Side view of the capitol building 150

The Capitol Building

Many share the same opinion that even if there will be a session on the new proposed bill, it will probably fail until the new Congress takes their places in January.

On August 31, 2010, Rep. Barney Frank was interviewed by Jay Leno on the Tonight Show. He addressed the right of U.S. adults to gamble on the Internet and the huge economic opportunity based on billions of dollars a year coming from legal gambling tax. Leno disagreed and pointed that making gambling more accessible and available to the public will encourage dangerous addictions.

Congress is currently on recess until September 13th. Afterwords, only a few weeks will be left to address the internet gambling bill, giving HR 2267 one last chance before the midterm elections. After the elections the future seems less positive for the new regulation.