Nevada Lawmakers Introduce Bipartisan Bill to Ban Sports Betting on Prediction Markets

WASHINGTON, D.C. / LAS VEGAS, NV — Members of Nevada’s congressional delegation have introduced bipartisan legislation aimed at prohibiting online prediction market platforms from offering sports event contracts nationwide.

The initiative addresses growing friction between state-regulated gaming operators and federally overseen prediction sites.

Targeting Event Contracts

Introduced jointly by U.S. Rep. Steven Horsford (D-NV) and Rep. Mark Amodei (R-NV), the Prediction Markets Are Gambling Act would formally ban platforms like Kalshi and Polymarket from offering contracts tied to sports and casino-style games.

Prediction markets operate under the oversight of the federal Commodity Futures Trading Commission (CFTC) rather than state gaming control boards. Because these platforms frame wagers as “financial event contracts,” they do not pay state gaming taxes or adhere to local gaming regulations.

+--------------------------------------------------------+
|          PREDICTION MARKETS GAMBLING ACT SUMMARY       |
+--------------------------------------------------------+
|  - Sponsors: Rep. Steven Horsford & Rep. Mark Amodei   |
|  - Targeted Platforms: Kalshi, Polymarket, Event Sites |
|  - Key Provision: Bans Sports & Casino Event Contracts  |
|  - Core Objective: Protect State Gaming Regulation     |
+--------------------------------------------------------+

Protecting Nevada’s Regulatory Standard

Nevada gaming leaders have expressed concern over prediction markets offering sports-related wagers without facing the same strict compliance, anti-money laundering, and consumer protection protocols enforced by the Nevada Gaming Control Board.

“When it looks like sports betting, acts like sports betting, and profits from sports betting, it should follow the same rules as every other sportsbook,” Rep. Horsford stated. “Nevada’s gold-standard regulation protects consumers and generates vital state revenue.”

The bill has gained support from commercial gaming associations, while prediction market operators maintain their platforms serve as financial hedging tools rather than traditional gambling sites.

Source: Congressional Record Filings, The Nevada Independent Congressional Interviews, Nevada Gaming Control Board Regulatory Transcripts.