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“In addition, we have started consultations in certain head office functions as we roll out productivity initiatives across the group,” Sun International said.

“We remain committed to conducting the process with fairness, transparency and respect.”

Sun International vowed to retain and redeploy employees to other areas of the business where feasible.

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Some exchange operators already filed plans to introduce KPI-linked event contracts. Those derivatives would be tied to metrics such as corporate earnings or, in more nuanced cases, Apple iPhone shipments or Tesla deliveries — just two examples — in a given quarter.

While sports event contracts remain the headline-grabbers for prediction market operators, there’s evidence that other categories are experiencing growth. As Bernstein points out, cryptocurrency event contracts account for at least 20% of the turnover on the two largest prediction markets.

In another encouraging non-sports sign, one of those operators notched just $2 million in commodities volume last year, but that figure surpassed $410 million in August alone and is approaching $600 million on a year-to-date basis.

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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.

Convened by Texas State Senator Bryan Hughes, the hearing in the Senate Committee on State Affairs examined the relationship between federally regulated derivatives markets and state-prohibited gambling. Research from Eilers & Krejcik Gaming in April found that 43% of activity from sports event contracts came from two states, Texas and California. A separate breakout of Texas activity alone is not publicly available.

At Tuesday’s hearing, AGA Vice President Tres York testified before the committee alongside Robert DeNault, head of enforcement and legal counsel at Kalshi. The AGA, one of the nation’s most strident critics of prediction markets, argued that an event contract on the Cowboys to beat the Giants does not differ fundamentally from the same wager placed at a sportsbook.