I suppose I have learned something from this, never having been very interested in fishing at all. And I imagine that the Internet era meaning of the word is derived from this practice of using a baited line:
The interesting thing here is that the example given on the above page is rather similar to the one used earlier, but unless one attracts the catch using bait - putting something out to attract the catch - the trawling metaphor is actually more appropriate, since one is just seeing what gets dragged up. But anyway...