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Two members of Nevada’s congressional delegation are stepping forward with a bipartisan proposal aimed at shutting down sports event contracts on prediction markets in yet another chapter of the prediction vs state authority legal battle.
Rep. Steven Horsford and Rep. Mark Amodei told The Nevada Independent on Thursday (Jul 23) that they will introduce legislation that would effectively ban sports betting through platforms such as Polymarket and Kalshi.
Operators are regulated by the Commodity Futures Trading Commission (CFTC), but they do not pay state gaming taxes and operate with fewer consumer protections than licensed sportsbooks. Nevada already bars these platforms from offering sports contracts while a legal fight continues.
Horsford said the bill is designed to bring consistency to regulation. “When it looks like sports betting, it acts like sports betting, and profits from sports betting, then it should follow the same rules as every other sportsbook,” he told the local news outlet.
“Regardless of which app a consumer uses, they deserve the same protection, and that has been the gold standard of regulation that Nevada has been built on, and it’s what we are working to ensure is protected.”
Horsford adds to the pile of prediction market bills in Congress
The new proposal, called the Prediction Markets Are Gambling Act, would stop companies from listing contracts tied to sports or casino‑style games across the country.
Supporters argue those products compete directly with state‑regulated gaming, which delivers more than a third of Nevada’s revenue and is now a growing source of income for other states.
“This is about protecting jobs, protecting consumers, and protecting the integrity of our gaming industry,” Horsford stated in a press release announcing the bill. “Nevada has always been the gold standard for gaming regulations. These companies are exploiting a federal loophole that allows them to effectively sidestep state oversight that every other legal sportsbook must follow.”
The measure has backing from major labor unions, including UNITE HERE and Culinary Workers Union Local 226, as well as the American Gaming Association.
The Senate version of the bill is led by Sens. John Curtis and Adam Schiff, with Sen. Catherine Cortez Masto joining as a co‑sponsor. Horsford’s latest move adds to a growing list of prediction market bills in Congress, including one he already co‑sponsors that would bar federal officials from using insider information to place bets.
“I’m proud and know that we will be able to make the case for why this targeted, bipartisan legislation should move forward,” Horsford said. “Talking to colleagues on both sides of the aisle, they see this as a real problem.”
