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

Two Nevada congressmen introduced a bipartisan bill Thursday that would effectively shut down sports betting on federally regulated prediction markets like Polymarket and Kalshi. Rep. Steven Horsford (D-NV) and Rep. Mark Amodei (R-NV) are behind the Prediction Markets Are Gambling Act, which would bar these trading platforms from listing sports and casino-style event contracts nationwide. For bettors who have started splitting action between licensed sportsbooks and prediction market apps, this is the clearest signal yet that Washington wants that option gone.

The bill targets a loophole that has let prediction markets offer what amounts to sports betting without the licensing, consumer protections, or state tax obligations that regulated sportsbooks have to follow. Prediction markets sell “event contracts” letting users wager on outcomes like whether a team wins a game, and they’re overseen federally by the Commodity Futures Trading Commission rather than state gaming regulators. That structure is exactly what Horsford and Amodei are trying to close off.

What the Bill Would Actually Change for Bettors

“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,” Horsford said in an interview with The Nevada Independent. “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.”

The legislation draws a specific line: it prohibits sports and casino-style event contracts on federally registered exchanges, but it does not touch legitimate hedging contracts tied to weather or economic outcomes. It also includes language affirming that states and tribes retain ultimate authority over gaming regulation and can impose their own stricter limits. That matters for bettors in states like Nevada, where prediction markets are already blocked from offering contracts amid an ongoing legal fight with the Gaming Control Board.

Why Bettors Should Pay Attention Now

A Senate companion version of the bill, led by Sen. John Curtis (R-UT) and Sen. Adam Schiff (D-CA) with Sen. Catherine Cortez Masto (D-NV) also signed on, has been sitting since March 2026. Having a House version now backed by lawmakers from both parties gives the effort real momentum, and it comes as courts are actively weighing whether prediction markets can keep operating in states that have tried to block them.

For anyone who’s been using a prediction market as a workaround in a state without legal sports betting odds access, or just to shop for better lines than a traditional book, this bill is a direct threat to that option. If it becomes law, sports and casino-style contracts would disappear from federally regulated exchanges, pushing all of that action back toward licensed sportsbooks that carry state oversight, consumer protections, and the taxes that fund state gaming programs. Bettors weighing where to place money going forward should keep an eye on how this bill moves, since it could reshape which platforms are even legally allowed to take a sports wager.