Celecoxib in Preventing Multiple Myeloma in Patients With Monoclonal Gammopathy or Smoldering Myeloma

Criteria:

* M-protein \>= 30 g/L
* No clinical evidence of chronic infectious or inflammatory disease
* No present evidence of active malignancy (nonmelanoma skin cancer or cervical intraepithelial neoplasia allowed)
* No hypersensitivity (e.g., asthma, urticaria, or acute rhinitis induced by NSAIDs) to aspirin or other NSAIDs
* No hypersensitivity to sulfonamides
* No uncontrolled diabetes
* No history of diabetic retinopathy
* No condition that would preclude study participation
* No condition that would preclude the use of NSAIDs
* New or preexisting diagnosis of 1 of the following for at least 2 months:
* Monoclonal gammopathy of undetermined significance as defined by the following criteria:
* M-protein =\< 30 g/L
* Bone marrow clonal plasma cells \< 10% and low level of plasma cell infiltration in a trephine biopsy (if done)
* Smoldering myeloma as defined by at least 1 of the following criteria:
* Bone marrow clonal plasma cells \>= 10%
* No related organ or tissue impairment (i.e., end organ damage) or symptoms
* Asymptomatic patients with =\< 3 lytic lesions (without other organ damage) attributable to plasma cell dyscrasia allowed
* No condition associated with a secondary monoclonal gammopathy
* IgG, IgA, or light chain M-component \>= 1.0 g/dL for at least 2 consecutive lab readings taken at least 4 weeks apart
* No anemia
* No hepatic insufficiency
* AST or ALT \< 1.5 times upper limit of normal (ULN)
* Bilirubin =\< 1.5 times ULN
* Creatinine =\< 1.8 mg/dL
* No hypercalcemia
* No renal insufficiency
* No uncontrolled congestive heart failure
* No history of cerebrovascular or cardiovascular accident
* No history of gastrointestinal hemorrhage
* No active or suspected peptic ulcer disease
* Previously treated H. pylori infection allowed
* More than 12 months since limited chemotherapy
* More than 28 days since prior chronic or frequent use of glucocorticoids (\> 5 mg of prednisone or equivalent per day)
* More than 28 days since prior chronic or frequent use of non-steroidal anti-inflammatory drugs (NSAIDs) (\> 100 mg of aspirin per day)
* More than 28 days since prior bisphosphonate therapy
* More than 28 days since prior investigational agents
* Concurrent low-dose aspirin ( =\< 100 mg/day) allowed
* No evidence of other B-cell proliferative disorders (e.g., multiple myeloma, Waldenstrom's macroglobulinemia, primary amyloidosis, or lymphoproliferative disease)
* Not pregnant or nursing
* Negative pregnancy test
* Fertile patients must use effective contraception
* AND/OR
* ECOG 0-1 or Zubrod 0-1