With no positive for the Idaho betting push, there remains to be a ton of debate on how to tackle the new craze that is putting money down on your favorite teams via different prediction markets. While things are operational in nearby Washington, people in major cities of Idaho, of course including Boise, are out of luck unless they go with Kalshi or PolyMarket. With this, though, a new bill could help Idaho rid itself of the prediction markets problem that has taken things over by storm.

Just recently this summer, Democrat Steven Horsford and Republican Mark Amodei introduced this new bill out of their home state of Nevada. With this particular bill, called the Prediction Markets Are Gambling Act, it would bring to a stop, 'federally regulated trading platforms from offering sports betting and casino-style gambling under the guise of financial products.' In essence, it's going after the prediction markets in a big way.

"This is about protecting jobs, protecting consumers, and protecting the integrity of our gaming industry,"Horsford said in a release. "Nevada has always been the gold standard for gaming regulations. These companies are exploiting a federal loophole that allows them to effectively sidestep state oversight that every other legal sportsbook must follow. They've already cost states over $1 billion in lost gaming tax revenue money that should have gone toward funding schools, roads, and critical programs."

What makes this so intriguing is that if things move forward here, it would stop allowing for prediction markets to operate at a federal level. With this, it would mean that states where sports betting hasn't been legalized yet would see their respective citizens no longer be allowed to place mobile pets through Kalshi or PolyMarket. This is what plenty of officials in Idaho have been pushing for, but with little luck. This new bill sure would change things in a big way.

How would Idaho benefit from this new bill that was launched in Nevada?

A fair question you might have on your mind right now is how would Idaho benefit from this new bill that was launched in Nevada? It's simple: this would impact things at a federal level, meaning it wouldn't just be Nevada that would benefit from this. Looking at things as a whole, Nevada alone is losing out on millions each month because of the popularity of prediction markets and online betting meeting together.

This is a different kind of problem for Idaho, as there are no online or in-person options available for people. This means that the prediction markets are 100 percent what people inside of the state rely on for their online betting needs. There have been plenty of illegal in-person rings that have been shut down by authorities, but it's safe to assume that more are still out there that haven't been identified yet.

With this bill, it makes it clear too that it would, 'prohibits sports and casino-style event contracts on federally registered exchanges.' With this, for an event like the Super Bowl, which is considered a futures wager for NFL betting, it wouldn't be allowed to be processed at a federal level through these markets. In essence, it would change how prediction markets would be allowed to be used, which would of course impact things as a whole. It would flip the script.

Political betting is also a problem for Idaho because of the prediction markets

As is also the case for countless other states, political betting is also a problem for Idaho because of the prediction markets. Come this November, there will be another election in the state, as Governor Brad Little is seeking his third term in office. He was originally voted in back in 2018, and then reelected again in 2022. Now, he's hoping that history will repeat itself in 2026, with voting around the corner.

On Kalshi, he has been given overwhelming odds to win this race by a landslide against Democratic nominee Terri Pickens. Because of this, people continue to place futures bets on Little to come out on top. And because of this, it's a no-brainer that those same people who are betting on Little to win, are surely going to make their way to the polls this fall to vote for him as well. See this issue with things there?

This is a growing concern for officials in Idaho, but nothing will change unless the prediction markets either get banned, or if Idaho finds a way to move forward with legal sports betting on its own. It will be interesting to see what eventually happens, but this new bill out of Nevada seems to give a bunch of states hope that justice will be served with the prediction markets, with Idaho of course being on that list.