This movie is remembered for shattering sexual innuendo boundaries. There are countless sexual references, including one racy conversation between the two leads that likens horse racing to sexual intercourse and gay characters. However, though the innuendos might have been eyebrow-raising back then, they are quite mild by today's standards. No nudity.
One major plot point revolves around finding stolen pictures of Carmen Sternwood that are presumably pornographic. However, due to censoring, nothing is mentioned outright.