Nevada Congressmen Propose Bill to Ban Sports Betting on Prediction Markets
Nevada Representatives Steven Horsford and Mark Amodei have introduced a bipartisan bill aimed at banning sports betting on prediction markets like Polymarket and Kalshi. These markets allow users to wager on event outcomes, such as sports games, and are regulated by the Commodity Futures Trading Commission (CFTC). The bill seeks to align prediction markets with traditional gaming regulations, which include state gaming taxes and consumer protections. The legislation is supported by labor unions and the American Gaming Association, emphasizing the need to protect state-regulated gaming industries that contribute significantly to state revenues. 
