Texas Prediction Markets Thrive Despite Gambling Ban

Prediction markets like Kalshi and Polymarket continue to thrive in Texas, operating under federal regulation while the state maintains its constitutional ban on traditional gambling. Lieutenant Governor Dan Patrick has directed a state Senate committee to study what he calls a gambling loophole, with findings expected to inform possible action in 2027.

Kalshi stands out as the top recommendation for Texas traders, offering deep liquidity and markets ranging from Cowboys games to political events. These platforms provide an alternative to traditional sports betting in a state that remains one of the largest untapped markets for gambling despite repeated legislative attempts to legalize it. rocore.sbs