The 6th of May 2009, Barney Frank, who is the U.S. House Financial Services Committee Chairman, introduced a new online gambling bill into the U.S. Congress.
This new legislation reserves the UIGEA of 2006 and establishes a legal regulatory framework to allow the internet gambling in the United States.
Frank is also planning to introduce a separate piece of legislation that would “freeze” the implementation of the UIGEA.

The official name of the new bill is Internet Gambling Regulation Consumer Protection & Enforcement Act. With this bill, the U.S. Treasury Department would have the authority to regulate how online gambling is conducted in the country.
To accomplish this activity, a system of licensing of gaming companies is needed and the Treasury Department would have the instance to issue or revoke those licenses.

The bill is incredibly anticipated not only in the U.S. but all around the world. Reuters news services reported that Europe based online gambling groups have lost billions of euros value due to the UIGEA. Besides, the ban happened in a moment of a tense trade situation between the U.S. and the EU and also some unfortunate prosecution of European gambling companies like PartyGaming.

The new law is going to be helped also because the White House is now in Democratic hands. Still there are many U.S. political quarters that are against any kind of legal online gambling.
One of the ones, who already attacked the new bill, is Representative Spencer Bachus, who is also on the House Financial Services Committee. According to him, the internet gambling sites are a criminal enterprise. The fact that now it would be allowed to gamble, according to Bachus it could present a clear danger to the youth, because they could become addicted at an early age.