Can you bet on the election in Vegas?

My father just called. He was asking me to find out the Vegas betting-line odds on the presidential election. I was bemused and explained to him that there is no such thing. The Brits are known for this sort of thing, but I don't believe that betting on electoral politics in the United States is legal. I mean, how would that work, anyway? What sort of handicapping would go on?

Sometimes, I told him laughing, casinos put out odds just for fun on some things. He seemed convinced such a betting construct exists.

Am I right or wrong?