Eight years ago, Sen. Kyl has put forward a law, "The Unlawful Internet Gambling Enforcement Act", which would prohibit all forms of online gambling. The law would require banks and credit card companies to block payments to online Internet gambling sites.

The law was blocked last week because it was not tabled in the appropriate committee, the Banking and Finance committee.

The American Bankers Association, America's Community Bankers and Visa said they would support Internet gambling regulation, but not in the form proposed by Kyl.

Interstate betting on horseracing, as allowed by the Interstate Horseracing Act, is important to the industry, which strongly rejects a general prohibition.