The Stash

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Instead, the phrase embodies the ethos of the Lone Star State, where Texans demonstrate a sense of pride and identity that exemplifies the state’s outsized persona. As event contracts proliferate, the adage could be applied to prediction markets, where volume ranks among the highest in the nation. Last Sunday, for instance, trading activity for an NFL matchup between the Dallas Cowboys and the New York Giants topped $208 million across US markets, figures from Aldrin Research show. At Kalshi, volume for the NFC East showdown on Sunday Night Football eclipsed that of any NFL regular-season game last year.

The volume is not only seen across NFL markets, but also on those in college football, which is practically a religion in Texas. When Ohio State faced Texas in a Top 5 matchup on 12 September, volume surpassed 50.7 million contracts traded, according to Odds Shopper, a prediction market tracking site. The robust activity set the stage for an intense legislative hearing three days later in the Texas Senate.

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.

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Potentially boding well for the Macquarie forecast are at least two factors. First, there are signs of turnover increases across a variety of yes/no exchanges. Second, volume surged to start September with those spikes arriving even before the NFL season kicked off.

As Macquarie analyst Chad Beynon points out, prediction markets generated $4.3 billion in taker volume during the first week of September without any help from the NFL, building on momentum from the 2026 World Cup. However, the NFL’s impact was immediate, with taker volume hitting a daily record during Week 1 of the campaign.

With all that in mind, it’s not surprising that Macquarie expects sports event contracts will drive approximately 80% of taker volume this year, but Beynon sees other categories growing over the long term.

About The Stash

From the ash, three phoenix rise, and each one guards a different force. Their tears hold old magic, and when those tears are gathered the heat returns to the embers below. The more phoenix wake, the more there is to play for. When all three rise together, their combined force reshapes what happens next. A 5-reel, 4-row video slot built around three phoenix-driven Hold and Spin features. Collect coloured Tear Scatters to wake each phoenix, stack their modifiers, and climb the GO Guaranteed ladder.