Maybe this has been answered in other threads already, in which case I apologize, but here's a few things I don't understand/know yet or am not sure about:
1) If I understand the quote correctly, the US has only one federal law that could apply to online poker, namely the 45 year old Wire Act, and it is debatable whether it applies to online poker at all, as it was more or less designed to apply to sports betting. So is it true that there is currently no federal law which, in practice, applies to online gaming? Is it true that some states forbid online gaming? How is this enforced?
2) For gambling activities within the scope of the Wire Act, is it the case that it is illegal to run/host a site where people can engage in these activities online? Is it illegal for a US citizen to engage in these activities on an offshore site? For example, is it currently illegal for a US citizen to place bets on horse races in, say, Poland?
3) If the purpose of the biill is, as it apparently says explicitly, to enforce existing laws (i.e. to enforce the Wire Act), then why doesn't it explicitly say what is/should be covered by the Wire Act? If it is true that current legislation on online gaming is largely non-existent or insufficient, then why a bill to enforce this legislation and why not first modernize the online gaming legislation?
4) What's with the 270 day period? Is this the timeframe in which alterations/refinements to the bill can be made? If so, is this done with every bill or is it something special related to this bill? If it is true that the bill will only come into effect after 9 months, then why are sites like Party already reacting now instead of raking in another billion?
5) If the bill indeed renders financial transactions from banks to online gaming sites unlawful (which may or may not be the case, depending on the scope of the Wire Act), then the obvious strategy for existing gaming sites would seem to be to search for other ways for players to fund their accounts. Pulling out altogether seems like a draconic measure. Any ideas of the reasoning behind this extreme reaction?