Absolutely, latex balloons are dipped natural rubber latex products manufactured by very similar methods as gloves, just like gloves there is a wide range to the protein level found on balloons, some are fairly low protein and others are very high. Latex allergic individuals should avoid contact with latex balloons, mylar balloons are a safe alternative.

( also see: THE ALERT Vol. 3, No.2, page 1 Transfer of latex proteins )