Rep. Steven Horsford (D-NV) and Rep. Mark Amodei (R-NV) are introducing a bill…that would essentially ban sports betting on prediction markets such as Polymarket and Kalshi, the congressmen told The Nevada Independent in an exclusive interview.
Prediction markets offer “event contracts” that let users wager on whether certain events will happen, such as a team winning a game, and make money by charging fees on those bets. The federal Commodity Futures Trading Commission (CFTC) regulates the companies, which do not pay state gaming taxes and have fewer consumer protections than traditional gaming operators. They are blocked from offering contracts in Nevada amid an ongoing legal battle.
