According to Reuters, lawmakers are considering legalizing gambling a placing a tax on it that would raise $42 Billion in revenue over the next decade. Here is an excerpt:
The House is considering two Internet gambling bills. One would legalize it. The other would require people to declare winnings from online gambling to U.S. tax authorities and set a 0.25 percent tax on wagers of all federally licensed bets.
While the multibillion-dollar Internet gambling industry is not illegal per se, it soon will be illegal for financial institutions to knowingly accept payment in online gaming transactions, under a law that is set to take effect in June.
That law makes an exception for fantasy football and horse racing.
If all states took part, taxing online gambling could raise about $42 billion over a decade, according to the joint congressional tax committee.
See GOP blasts idea of to tax internet gambling, The Hill’s On the Money Blog