Patrick Cracks Down on Online Prediction Markets

0:00On May 1st, Texas lieutenant governor Dan Patrick is cracking down on online prediction markets, calling them out for dodging gambling laws, and messing with elections and sports. He's told state senators to dig into whether these platforms skirt Texas bands and come up with fixes before the 2027 legislative session. These sites left folks bet cash on stuff like election winners or game scores, but operators swear they're just regulated financial exchanges under federal rules, not straight up gambling spots. Critics are fired up, saying in hoax people like drugs, chasing dopamine highs that lead to wreck lives, suicides, broken families, and crime. Groups like Texans against gambling warn it's a public health crisis, especially betting on elections, which they call a core state power already, outlawed in Texas penal code. These heated up when call she, the biggest player, find three congressional hopefuls, including Texas Republican Zeke and Requez, $784 and banned him five years for betting under 100 bucks

1:04on his own primary. Now sports books like Draft Kings and Fandall are jumping in with similar products for Texans, despite the state's no bet stance. Patrick's a long time gambling foe, and this could spark bigger pushback, but federal watchdogs like the Commodity Futures Trading Commission are, fighting states in court with Supreme Court showdowns likely on the horizon. I'm Cory with the story, and you've been listening to US News Today, AI-powered National