Two Congressmen unveiled legislation Wednesday that would enable Americans to legally gamble online.

"The government should not interfere with people's liberty unless there is a good reason," Rep. Barney Frank (D-Mass.) said. "This is, I believe, the single biggest example of an intrusion into the principle that people should be free to do things on the Internet. It's clearly the case that gambling is an activity that can be done offline but not online."

The law currently prohibits credit card companies and banks from processing bets placed on online gambling Web sites. For more on this story, click here.

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