Cardoso joined Betis in January and has quickly settled in LaLiga.
Diario de Sevilla says both Barcelona and Atletico Madrid are interested in the USA midfielder.
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Both giants need a defensive midfielder and Cardoso is considered a good signing both in the short and long term.
Real Betis are said to be open to selling Cardoso after just six months.
Real Betis paid 6m for the American. Although he has a buyout clause of 80m, Real Betis would be willing to accept bids of around 30m.
Cardoso's contract runs until the summer of 2029.