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Online Gambling Banned in the U.S.?

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I read it briefly somewhere, but is it true that they banned online gambling for U.S. residents?

If it's true, I think it's a good move on the government's part because a lot of people were losing their life savings to these international-based casinos. This may also improve the U.S. economy because it would mean there would be less money being lost to foreign countries.

What are your thoughts?
 
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http://www.online-casinos.com/news/news3024.asp

"The WTO is likely to find the US has not been in compliance.
Of importance here is that the United States has filed a grievance with the World Trade Organisation in regard to China on another issue, and would most certainly need to abide by any other WTO decisions if they are to make any sort of headway in this matter."
 
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