Prompted by the news that federal agencies have agreed to postpone the implementation of the UIGEA for six months, the Windy City Rounder blog at http://www.chicagonow.com/blogs/windy-city-rounder/2009/12/10-reasons-not-to-ban-online-gambling.html provided its reasons for regulation rather than prohibition this week.
 
Dealing with everything from excessive state paternalism to international relationships and tax revenues, the piece is well worth a read.