Texas Lieutenant Governor Dan Patrick has directed lawmakers to study cryptocurrency, blockchain and prediction markets as part of legislative priorities ahead of the state’s next session.
The initiative includes examining whether prediction market platforms are exploiting legal loopholes to bypass Texas gambling restrictions, particularly in election-related betting.
Patrick said the review aims to “advance the priorities of Texas’ conservative majority,” including tightening oversight on emerging financial technologies and digital assets.
The charges also call for closer evaluation of how Texas aligns with federal crypto regulations and the role of crypto kiosks operating across the state.
Texas maintains some of the strictest gambling laws in the US, and the move comes as other states pursue legal action against platforms such as Kalshi and Polymarket over sports and election wagering.
Separately, lawmakers will study the economic impact of artificial intelligence, as reports indicate a more than $5 billion data centre project backed by Google and leased to Anthropic may expand in Texas.
The state has previously signalled support for digital assets, having passed a Bitcoin reserve bill in 2025, underscoring its dual approach of fostering innovation while tightening regulatory scrutiny.
At the time of reporting, Bitcoin price was $68,231.33.