Several states are rushing to establish a foothold in online gambling — an activity that federal officials were only recently trying to ban.
Just a while ago, the federal government actually viewed online gambling as a crime. Lately, the Obama administration has taken a more permissive stance. It now allows states to sell lottery tickets online.
New Jersey Gov. Chris Christie had expressed reservations about online gambling a month ago and had vetoed an earlier version of the bill. But in the end, the pressure to sign the legislation was just too great.
With no government ties, Bitcoin is used to buy everything from blogging services to Brooklyn-made cupcakes. Theoretically, millions of dollars are being kept in the digital currency, and it's increasingly being used by specialized online gambling websites. But is Bitcoin gambling legal?
Purely in the interests of journalism, I decided to get my hands on some of the currency. When I did so, Bitcoin, which has been around for a few years now, was fetching around $17 on most exchange sites. It has since risen to more than $20.