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Legislation Nevada Lawmakers Introduce Federal Bill Targeting Sports Event Prediction Markets

A bipartisan House bill from Nevada lawmakers would bar federally regulated exchanges from offering sports betting and casino-style contracts while preserving state and tribal gaming authority.

Jeanette Garcia • 4 hours ago
Neon-style graphic illustrating sports betting restrictions or regulatory challenges. At the center, a digital sports betting interface displaying market charts and betting options for football, basketball, soccer, and baseball is covered by a large red prohibition symbol. On the left, an outline of the state of Nevada glows in blue and purple. On the right, a judge’s gavel appears in front of a shield and legal document, symbolizing regulation, compliance, or legal action. Blue and purple energy streams connect the elements against a dark background, emphasizing the intersection of sports wagering, state oversight, and gaming law.
News Kalshi, Polymarket Push Prediction Markets Beyond Politics as Volume Surges

Prediction markets led by Kalshi and Polymarket are moving beyond elections into entertainment and sports, with rapid growth bringing new scrutiny over regulation and market risks.

Joe Boozell • 4 hours ago
Prediction Market volume surge
Courtroom IRS Hearing Puts Focus on 90% Gambling Loss Rule for 2026 Tax Year

An IRS hearing on the new 90% gambling loss deduction cap drew criticism from lawmakers, tax professionals and gamblers who said the rule could create taxable phantom income in 2026.

Joe Boozell • 5 hours ago
Slot Machines Representing Phantom Income from Gambling Losses
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