Chicken Dash

About Chicken Dash

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.

About Chicken Dash

“We think investors will be looking for signs that Genius can leverage Legend’s relationship to capture a larger share of the rapidly expanding sports betting and prediction market opportunity,” he aded in a note this week.

Genius founder and CEO Mark Locke this week touted Genius’ position as a provider of official data, settlement and integrity services to both traditional betting and predictions platforms.

“Through Legend and our wider media platform we help operators acquire the customers all of them are competing for,” he added in a personal LinkedIn post.

About Chicken Dash

A systemic policy cooperation mechanism is expected, targeting youth gambling prevention and student safeguarding. Rather than implementing short-term campaigns, the focus will be on embedding gambling prevention into everyday school routines. 

It will include combining restrictions on smartphone use with engaging RAS activities to effectively block and fill the time students might otherwise spend being exposed to gambling content.

At the signing ceremony, Gyeonggi education chief An Min-seok emphasised the immediacy of the issue: “To effectively respond to youth gambling problems, close cooperation between the Office of Education, which best understands the school environment, and specialised prevention and treatment institutions is necessary.