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Texas is usually a layup for Republicans. Welp, not this year in the big 2026.
The Republican Party is facing significant headwinds this election cycle. Voters are blaming them for failing to bring down the cost of living with tariffs, new wars in the Middle East, and more. It’s a fair assessment since the right controls the White House and Congress — so there are no excuses.
Perhaps the biggest political battle in the country right now is over a Texas Senate seat. Right-leaning Ken Paxton is facing stiff competition from fast-rising Democrat James Talarico. Most polls put Talarico slightly ahead.
But heck, even the race over Texas governor is drawing a lot of watchful eyes because it’s closer than most expected. Incumbent Greg Abbott is only slightly ahead of Gina Hinojosa in most polls — and this despite Abbott holding the seat since
All this intrigue is creating an opportunity for prediction markets eager to scoop up new customers. Many have gone big on election forecasting ads ahead of the early November vote — to the chagrin of many in the media, however. Keep on reading and we’ll tell you about the push and pull happening right now.
DraftKings Buys Its Way Into Election Coverage
For once, the prediction market controversy isn’t centered on Kalshi or Polymarket. It’s DraftKings Predictions, which is only about a year old. Still in growth mode, DraftKings is partnering with CBS-owned local stations on election coverage. According to news org Status, the sponsorship runs from October 26 through election night. So it’s short-term, but this is time with the most eyeballs.
The deal calls for four sponsored appearances per day. We can only assume the on-screen presentation will visibly show how elections are trading on DraftKings Predictions.
Of course, CBS has local affiliates in every major market. So these TV hits will be very visible in the final stretch of election coverage. You better believe KTVT — the CBS station for the Dallas-Fort Worth area — will be a part of that mix.
There’s a giant irony here. DraftKings’ traditional sports betting app isn’t available in states where many of these CBS hits will air. But even in the states where DraftKings’ sportsbook is legal, almost none of them can offer odds on political elections (state regulators largely don’t allow it).
Of course, none of that applies to the prediction market platform. This perceived double standard is why Kalshi is embroiled in dozens and dozens of lawsuits with states and tribal organizations. All argue it’s offering a sports betting-like product without any of the regulation that comes with it.
This DraftKings-CBS deal only adds fuel to the fire. Speaking of which, CBS brass aren’t all that happy with this partnership either, as we get into next:
Some CBS Executives Aren’t Happy About It
CBS has been in a free-fall for a good year now. It was part of the acquisition by David Ellison — before he went out and bought CNN too. Many executives have been jettisoned already, and those left… well, many aren’t happy about this DraftKings deal.
Status reports that some local station executives learned about it from corporate management and raised concerns with their bosses. There was also anger toward the sales team that sold the sponsorship to begin.
You can understand the concerns from CBS News people, right? Election coverage is all about trust, and right now, prediction markets lack it. Not only are there lawsuits, but stories have been rampant about insider trading on the platform.
CBS defended the deal, telling Status that DraftKings has no role in its journalism, editorial decisions, or election coverage. It also said the sponsorship won’t include DraftKings odds or data in the local newscasts (yeah, right!).
Interestingly, CBS already has a prediction markets lack deal. Its national news operation announced Kalshi as its official prediction market sponsor last month, with plans to incorporate Kalshi data alongside CBS polling during midterm coverage. It would make sense to package national and local sponsorship deals together, but alas, it’s separate here.
And let’s be honest, CBS needs the prediction market ad money. As more and more people drop cable television, the homes carrying the network have fallen off a cliff. That means fewer fees they can rack up — and that’s money that needs to be made up somehow. Legal betting is the natural fill-in.
But let’s not get it twisted, CBS isn’t the only news organization giddily taking the prediction market money. Just about every major network — CNN, CNBC, The Associated Press, and The Wall Street Journal — has announced similar deals. Why should only influencers be allowed to take these deals, right?
Like it or don’t like it, it’s just the way things are across the media landscape today. Prediction markets and gambling apps are massive advertisers, and it’s not hard for them to find hungry outlets that need the money. We expect this trend to go into overdrive come the 2026 presidential election…
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