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The 62-minute hearing featuring Kalshi and a prominent lobbyist from the American Gaming Association provided a blueprint for the state’s evaluation of prediction markets next year. Before the calendar turns to 2027, though, stakeholders will monitor races for governor, attorney general and the US Senate on election night. The results in all three Texas races will likely have a major impact on the future of prediction markets inside the state.
Convened by Texas State Senator Bryan Hughes, the hearing in the Senate Committee on State Affairs examined the relationship between federally regulated derivatives markets and state-prohibited gambling. Research from Eilers & Krejcik Gaming in April found that 43% of activity from sports event contracts came from two states, Texas and California. A separate breakout of Texas activity alone is not publicly available.
At Tuesday’s hearing, AGA Vice President Tres York testified before the committee alongside Robert DeNault, head of enforcement and legal counsel at Kalshi. The AGA, one of the nation’s most strident critics of prediction markets, argued that an event contract on the Cowboys to beat the Giants does not differ fundamentally from the same wager placed at a sportsbook.
How to play Thors Lightning
Arsenal vs. Benfica (Agg 1-1) (5.55pm GMT kick-off)
Napoli vs. Granada (Agg 0-2) (5.55pm GMT kick-off)
Rangers vs. Royal Antwerp (Agg 4-3) (5.55pm GMT kick-off)
What is Thors Lightning?
Las Vegas Raiders head coach Klint Kubiak said tight end Brock Bowers will undergo a pregame workout before Sunday’s matchup against the Los Angeles Chargers at SoFi Stadium, keeping the door open for his return from knee surgery.
It’s a long shot. Bowers, who underwent a meniscus trim on his left knee on Sept. 8, missed practice on Wednesday and Thursday before returning Friday in a limited capacity.
During his media availability Friday, Kubiak repeatedly stressed that the NFL season consists of “17 desperate games in a row.”