Bipartisan Bill Would Ban Sports Event Contracts on Prediction Markets

In Nevada, there's a new bipartisan effort to stop prediction markets from offering sports event contracts. 

The bill, HR 9856, was introduced this past Wednesday by Rep. Steven Horsford (Democrat) with co-sponsor Rep. Mark Amodei (Republican). The bill is known as the "Prediction Markets Are Gambling Act," and it would amend the Commodity Exchange Act to prohibit federally regulated prediction markets from offering casino-style games and sports event contracts. 

As of now, this bill has been referred to the House Committee on Agriculture, and testimony was heard earlier this week. 

Bill Defines Sports Event Contracts and Casino-Style Games

The bill also defines what a "casino-style game" and a "sporting event or athletic competition " is.

Per the bill, a casino-style game is defined as “any game traditionally found in a casino, including slot machine games, video poker, blackjack, roulette, craps, any other casino-style table game, bingo, lottery, and any simulation of any of those games.”

As for a sporting event or athletic competition, that's defined as “any live or virtual contest involving physical activity or skill in which individuals or teams compete and performance determines an outcome or statistical result, including amateur, collegiate, and professional sports.”

It goes on to say that this act cannot be “construed to preempt any State law or rule that regulates or prohibits any agreement, contract, or transaction relating to any sporting event or athletic competition or any casino-style game.”

Nevada Continues Push Against Prediction Markets

Nevada has been a hotbed of prediction market turmoil. It's also been a state taking arguably the strongest stance against them. The Nevada Gaming Control Board said that if a licensed gaming operator went into the prediction markets business, they'd risk their license. This led to FanDuel surrendering its license and DraftKings withdrawing its application it originally sent in back in November 2025. 

This stance has also left Caesars and MGM out of the prediction markets game. 

In addition to these two lawmakers, Rep. Dina Titus has been outspoken against prediction markets and the CFTC, saying there's "blatant corruption." 

"The CFTC’s proposed rule reinforces its failure to respect state and tribal sovereignty. Arguing that sports event contracts are anything but sports betting is pure fiction. Rather than confronting that reality, the agency appears more interested in cozying up to POTUS’s family interests," Titus said on X. 

"Congress must put an end to this blatant corruption and pass my Fair Markets and Sports Integrity Act," she added.