As many sports fans are aware across the country, betting apps have been constantly pushing their products at all kinds of venues, big and small. With a new football season kicking off, a new report notes that Texans are turning to daily fantasy sports and prediction market apps to wager on games, despite state law still banning sports betting. As noted in the same article, the football season began on August 23rd for NCAA College Football and September 4th for the National Football League, which automatically translated to a significant rise in the number of ads promoting gambling apps. Texans were, to many’s surprise, not left behind, even though no new legislation to legalize sports betting was passed this year.
For this article, SBS will be going over the latest gaming news coming from the Lone Star State, along with a variety of other notes and updates you can only find at SBS.
According to a local outlet in the state, despite the lack of new regulation, prediction markets have bombarded the people of Texas with a series of sports betting advertisements claiming that wagering on football is “now legal” in the Lone Star State. For instance, Polymarket has stated, “football trading is now legal” in Texas. Similarly, Kalshi’s Instagram ads show texts that read, “I found a way to bet on the NFL even though we live in Texas.” These platforms, along with daily fantasy sports (DFS), offer alternatives to traditional sportsbooks, enabling residents to wager on outcomes without technically breaking state law. This is because both rely on federal regulations instead of state gambling statutes. This is with prediction markets being handled as financial transactions regulated by the Commodity Futures Trading Commission, and DFS games classified as skill-based contests.
While efforts to regulate DFS and sports gambling have repeatedly stalled, leaving the legal landscape murky, the report says. The people of Texas have easy access to these services online, with DFS and prediction markets offering peer-to-peer wagering rather than betting against the house. Jack Such, Kalshi’s head of media operations, argued that people already find ways to gamble, noting in states where sports betting is deemed outside the law, including California and Texas, “most people will just go to an offshore book instead.” Additionally, such as defending the language in ads, saying terms like “bet, trade, invest, gamble” are largely semantic.
Experts say, despite operators claiming the opposite, these offerings do resemble sports betting. Gregory Gemignani, a gaming law professor at UNLV, described DFS and prediction markets as “pretty much identical” to traditional wagering, blending fantasy sports or futures trading with gambling mechanics. Prediction markets surged during the 2024 presidential election, with apps offering “event contracts” that let players wager on yes/no outcomes, ranging from NFL matchups to political races. Kalshi chief executive officer Tarek Mansour reported over $441 million in trades in just four days after the NFL season began, with week 1 similar to a US election.
Noted in the recent report, DFS games, which operate similarly, let users set up lineups of two or more athletes and wager on their performance in short-term contests. Other operators emphasize that the games are based on skill, offer peer-to-peer experiences, and are, therefore, federally exempt from any gambling prohibitions. With poor enforcement measures on behalf of state authorities, Texans have no problem freely accessing these alternatives. Noted in the article, this is even as lawmakers have cracked down on other gambling activities, including lottery ticket courier apps. Rep. Cesar Blanco reiterated the need for clearer regulations that would pull these options out of their gray area while offering better player protection and curbing illegal offshore betting.
Of course, with the changing landscape in Texas and also across the states, it is important to always stay up to date and apprised of what is occurring as it relates to gaming updates. Additionally, with all kinds of different resources and updates available, there are different kinds of nuances to gaming as we have seen in these updates and what can be accessed by patrons in the United States. Make sure to stay apprised of these updates and news so you can find out what you want to access and make sure you are educated on the topic and outlet as well. This is why SBS is a consistent source for gaming news, updates, and other related information.
After you are all up to speed in relation to the latest gambling news and notes coming from the Lone Star State, make sure to check out the excellent array of information for you at SBS. Of course, for even more updates on the Lone Star State, make sure to peruse the sports betting in Texas guide, which covers a variety of information related to the state and more. Additionally, for eligible customers, the BetOnline sportsbook review rundown is a must-read page for qualified customers. Here you can check out all the latest the outlet offers for eligible patrons and see if it might make sense for you, and more. Finally, for those on the go, the best betting apps breakdown is a fantastic resource. On this page, you can explore the perks of mobile betting and how it could make sense for you.