It very well could be. Does horn turn translucent with age? Whatever it is, it's flaking off the outside and appears to be delaminating on the inside. You can see what appear to be air pockets inside which led me to believe it was some sort of old plastic.
I've attached a close up illuminated by a flashlight where you can clearly see the tang inside. I've also included a picture of where the wood half (left) of the hilt joins with the "horn" or whatever side (right). There's 3 metal rings in the middle with some sort of blackened material in between. Lastly, a picture of where there may have once been a bolster. Or maybe this part originally slid into the scabbard. The current scabbard covers the blade only.
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