Casinos, Online Poker Stocks Rise on Obama Administration Decision to Allow States to Decide on Legalizing Internet Gambling

A report from the Justice Department made public on Friday indicated that states would be able to decide on allowing many forms of Internet gambling, previously considered illegal. The DOJ says the Wire Act of 1961, bars wagers only on a "sporting event or contest". Almost every other form of online gaming would fall under the jurisdiction of the states.