Nevada’s two senators are both supportive of federal efforts to curb sports-related prediction contracts, saying the products function as unregulated gambling and undermine the state-based oversight model that governs the industry.
Sen. Catherine Cortez Masto, D-Nevada, has signed on as a co-sponsor of newly introduced bipartisan legislation that would amend the Commodity Exchange Act to explicitly bar prediction markets from offering event contracts tied to sports or casino-style games. The proposal, known as the Prediction Markets Are Gambling Act, was introduced Monday by Sen. Adam Schiff, D-California, and Sen. John Curtis, R-Utah, and would prohibit Commodity Futures Trading Commission–registered platforms such as Polymarket and Kalshi from listing contracts that function like sports wagers or casino-style games.
