According to the reports, an official announcement is expected on Wednesday at the National Football League (NFL) owners meeting in Dallas, Texas.
SB LVIII was originally scheduled to be hosted by New Orleans, but was relocated out of the city due to game conflicting with Mardi Gras. New Orleans will instead get the big game in 2025.
The NFL declined to comment on the report. CNN has reached out to the Las Vegas Raiders for comment.
The Raiders moved to Las Vegas in 2020 after its relocation from Oakland, California.
Costing $1.97 billion and taking 31 months to complete, the Allegiant Stadium has a capacity of 65,000. As well as hosting Raiders games, it also is the home for the UNLV Rebel football team and held the Pac-12 championship game earlier this month.
Las Vegas is also set to host the 2021 Pro-Bowl on February 6 and 2022 NFL Draft from April 28-30.
The Super Bowl this season will be held at SoFi Stadium, home of the Los Angeles Rams and Chargers in Inglewood, California in February. State Farm Stadium in Glendale, Arizona will host the Super Bowl in 2023.