United States Senator Harry Reid and Jon Kyl are reportedly working on a bill that would legalize and regulate online poker within the United States.
The report comes from the New York Post, which reported that the two may be working on trying to pass an internet poker bill before the end of the current congressional session, and stands a good chance of being passed. The Post states that Senator Kyl, a Republican may co-sponsor the bill, making the legislation a bi-partisan issue.
The report also states that ""Time is of the essence. Sources believe Congress will not pass such a controversial bill during the 2012 presidential election year, and the following year may not be opportune as poker advocate Harry Reid (D-Nev.) may no longer be Senate Majority Leader."
The rumored Reid-Kyl bill may be the legislation that the American Gaming Association referenced earlier this year when it declined to support Texas Representative Joe Barton's online gambling bill, saying it would approve of a bill that would be introduced later.
Legalized online poker has the support of many politicians in Washington, thanks in no small part to the taxable revenue that would be brought in by the government. Some estimate that the federal government could generate more than $50 billion over 5 years.