Rep. Dina Titus (D-NV), who is proud of her Hellenic heritage, often feels like the Greek mythology figure Sisyphus while pushing legislation on behalf of the gaming industry — eternally rolling a massive boulder up a steep hill. 

For example, Titus spent more than a decade seeking to increase an antiquated threshold requirement on reporting slot machine jackpots. The change was slipped into last summer's One Big Beautiful Bill Act.

But she wasn't satisfied. The increase from $1,200 to $2,000 was much smaller than she had hoped. 

Last month, Titus filed a discharge petition — a congressional maneuver meant to circumvent the House speaker and force a vote — on her FAIR Bet legislation, which would restore the 100 percent gambling loss deduction that was removed as part of last summer's bill. Her legislation has found widespread support among the gaming industry. However, as of Monday, she and Rep. Troy Nehls (R-TX) have been the only House members to sign the petition — far from the 218 member signatures she would need to move the idea forward.

Now, with prediction markets moving in for a rather large piece of the gaming industry's action, Titus, whose district includes the Strip, told The Nevada Independent that gaming operators can't afford another lengthy battle to their bottom line. On Feb. 11, she introduced HR7477, which would eliminate prediction market contracts on sports.

The businesses, such as Kalshi and Polymarket, offer "yes or no" contracts — the term to describe their wagering activities — on the outcomes of current events, politics, pop culture, elections and sports. On Monday, Axios reported that Kalshi signed an agreement with The Associated Press to license election data from the news service.

However, it's the sports wagering component that has drawn nationwide attention.

Regulated federally by the Commodity Futures Trading Commission (CFTC), the businesses don't pay gaming taxes to any state. Last month, Titus introduced legislation to ban prediction markets from offering event contracts on sports.

"This is not just to protect the gaming industry. This is to protect people who bet on these platforms and have no recourse if something goes wrong," Titus said. "There is no regulation to protect the consumer or programs for problem gambling. There's no employment in the state to create jobs. They make no contribution whatsoever."

Former Republican New Jersey Gov. Chris Christie (R), who led the six-year legal fight that led the U.S. Supreme Court to overturn the nationwide ban on sports betting, labeled the companies "rogue cowboys." Christie is advising the American Gaming Association leadership in their public spat with prediction markets. 

Titus said the CFTC, which regulates derivative markets that enable farmers to lock in a price for their crops, and utility companies or airlines to hedge the costs of fuel, is ill-equipped to serve as a nationwide gaming regulator because it does not have the resources or expertise.

She criticized comments last month from CFTC Chairman Michael Selig, who threw the agency's support behind prediction companies in the legal battles with states.

"You have the head of an agency that's supposed to be regulating pork bellies saying they're able to regulate gaming," said Titus, adding that the 40 states that have legalized sports betting are better equipped to regulate the activity.

"I'm not saying you can't have prediction markets," Titus said. "I'm just saying if they move from [commodities] to sports betting, then they have to follow the local rules."

Nevada sportsbooks in 2025 reported revenue of $601.4 million from sports betting, up almost 25 percent from $482.1 million in 2024. Total wagering on sports was $8 billion, up almost 2.3 percent from $7.9 billion in 2025. 

In February, the state's sportsbooks saw their lowest collective wagering total on the Super Bowl in 10 years — $133.8 million, a nearly 12 percent decline from the 2025 Super Bowl, which many analysts blamed on prediction markets. Kalshi CEO Tarek Mansour told CNBC the platform "exceeded $1 billion in Super Bowl trading volume."

The Gaming Control Board filed a cease-and-desist order against Kalshi a year ago in federal court. Since that time, gaming regulators in more than 20 states have filed legal challenges against Kalshi and other prediction market companies. In a few instances, the markets were temporarily blocked from offering sports contracts in those states.

Nevada gaming regulators have turned to fighting prediction markets in the state's court system. 

Last month, after the 9th Circuit Court of Appeals said Nevada could block Kalshi from the state, the control board filed a civil enforcement action with the Carson City District Court, which could render a decision this week. Kalshi, the board said, is the only prediction market currently operating unlicensed wagering in Nevada, which gaming regulators believe will force the company to suspend operations in the state.  

Titus wants Congress to step in and back up state gaming regulators. 

"States that have legalized sports betting have adopted strong safeguards for consumer protection, responsible gaming, anti-money laundering compliance, and independent integrity monitoring," Titus said in a statement when she announced the legislation. 

"Prediction market companies are evading these protections, leaving consumers, players, and the integrity of sports at risk," she added. "My legislation would end this illegitimate practice."