[Op-Ed] With Joe Biden dropping out of the 2024 US Presidential Race, current Vice-President Kamala Harris is the frontrunner and likely Democratic nominee.
Recently, I examined how a second Donald Trump Presidency might impact iGaming regulation. Now, I look at the other side, how a Kamala Harris Presidency might impact regulation.
Key Highlights
- Harris has experience with gambling laws from her days as California Attorney General.
- Harris is looking to be more crypto-friendly than Joe Biden.
- Her tendency for inclusion could extend to iGaming regulation.
Harris Has Experience With Gambling Laws and Prosecuting Offenders
One thing that we can say for sure is that Harris has more experience on the legal side of gambling than her opponent. While former President Trump was a casino owner, Harris was a former District Attorney responsible for enforcing gambling laws in California.
Harris has a track record of prosecuting offenders, including a pair of prominent cases. In 2015, the state successfully prosecuted Capital Sweepstakes Systems, Inc. and secured a settlement of $700,000 for violations of gaming law. In 2016, California sued Pong Marketing & Promotions, Inc. for violating California’s gaming laws by offering sweepstakes cafes in the state.
Her experience with California gambling legislation will give her a greater understanding of iGaming laws and the benefits and pitfalls of online gambling. This perspective, unique to politicians for the last two decades, could prove crucial if any form of gambling regulation passes her desk as a potential future President.
Changing the policies changes the message and lets everyone know she is in charge and open, literally, for business.
– Mark Cuban, Dallas Mavericks owner
She May Be More Crypto-Friendly Than Biden
The Biden administration has been a proponent of strict crypto regulation despite positive adoption efforts like Bitcoin and Ethereum ETFs. Various lawsuits and inquiries from the SEC have made the future of crypto uncertain, but a Harris administration could change that.
There are reports that Harris representative members are reaching out for information about crypto.
Dallas Mavericks owner Mark Cuban was one such person who was contacted. Speaking with Politico, Cuban stated, “The feedback I’m getting, but certainly not confirmed by the VP, is that she will be far more open to business, [artificial intelligence], crypto, and government as a service. Changing the policies changes the message and lets everyone know she is in charge and open, literally, for business.”1
Far-Left Extremist or Pragmatic Moderate?
Depending on who you ask, Harris is viewed as a far-left extremist or a moderate. The New York Times in 2020 referred to her as a pragmatic moderate. While her policies have primarily aligned with Biden during his administration, a Harris run in the White House would allow her to bring more moderate approaches to the Democratic Party. This includes helping the country to adopt Bitcoin and cryptocurrency.
As crypto is a primary currency for online casinos, widespread adoption and acceptance will help the iGaming industry. It will provide secure payment options to players, allowing for greater trust and security.
Harris Will Not Be a Lame Duck
One thing that must be pointed out is that Harris will be a new President who can potentially hold office for eight years. Both former President Trump and current President Joe Biden would have been lame-duck presidents if they were to gain office.
A “Lame Duck President” is a President in his second term. They have four years to enact policy, and often, their policies are either continuations of policies from the first term or “big picture” issues.
Online gambling is considered, at best, a second-tier issue. Most consider it a low priority, and thus, it is unlikely to be addressed by a President in his last term.
Kamala Harris will be a new President with eight years to mobilize her agenda. If online gambling regulation or related issues are on her radar, they are more likely to be addressed.
Kamala Harris’ History of Inclusion Could Extend to iGaming
It is well-documented that Harris is a proponent of inclusion. She is known for supporting immigrant rights and decriminalizing border crossings. She has also been an ally to the LGBTQ+ communities, Black Lives Matter, and other social justice causes.
Her spirit of inclusion will likely extend to the iGaming market as she champions Americans’ right to securely gamble online. Whether this will result in changes to iGaming laws in the United States remains to be seen, but out of the two potential candidates, the current Vice President is the better option for the future of iGaming in the United States.
Sources
https://qz.com/kamala-harris-catching-up-on-crypto-1851602898
https://thedefiant.io/news/people/kamala-harris-stance-on-cryptocurrency-what-we-know-so-far
https://www.coindesk.com/opinion/2024/07/25/how-kamala-harris-could-usher-in-a-clean-slate-for-crypto-regulation/
https://oag.ca.gov/news/press-releases/attorney-general-kamala-d-harris-files-lawsuit-against-pong-marketing-promotions
https://oag.ca.gov/news/press-releases/attorney-general-kamala-d-harris-announces-700000-settlement-capital-sweepstakes
https://www.nytimes.com/2020/08/11/us/politics/kamala-harris-vp-biden.html
