This Act prohibits any person engaged in the business of betting, as defined, from knowingly accepting credit, electronic fund transfers, checks, or any other payment involving a financial institution to settle unlawful internet gambling debts. The Treasury Department and the Federal Reserve Board must develop jointly and prescribe regulations requiring payment systems to identify and block or otherwise prevent or prohibit the acceptance of payment for internet gambling transactions.
Pub. L. No. 109–347, 120 Stat. 1952 (2006), codified in relevant part at 31 U.S.C. §§ 5361- 5367