It passed in the House, but has two more steps to go before becoming law. The Senate must pass an equivalent bill, and then the President must sign it.
Since most of the online gambling companies stocks didn't nosedive on the various world stock exchanges, it seems that the financial world is convinced that this won't happen.
Online gambling prohibition bills also passed in the House in 2002 and 2003 (I think those are the correct years), but failed to reach the Senate floor.