Hurricane Helene is on track to hit Florida and the Gulf Coast region Thursday night in what could be one of the most powerful storms to strike the regions in decades.

Here's a look at the regions most affected, and how the hurricane is impacting travel, sports, and key stocks to watch.

Hurricane Path: Hurricane Helene could hit and impact several major cities in Florida and the nearby states, including Tampa, Tallahassee and Atlanta.

Currently a Category 2 hurricane, the storm could be elevated to a Category 3 or Category 4 storm in the coming hours and days. The hurricane is expected to be one of the largest storms in the region over the last century, as reported by CNN.

Over three million people in Florida and Georgia are currently under a Tornado Watch until 10 p.m. ET Thursday night.

A CNN meteorologist predicts that peak wind could reach over 100 mph in some regions Thursday and Friday, with rainfall of up to 12 inches in certain areas.

Florida Governor Ron DeSantis warned of the potential that Hurricane Helene could shift its path and could hit Tallahassee, the state's capital. Tallahassee has never been directly hit by a Category 3 hurricane.

"This area has not had a major hurricane hit in quite some time, and certainly nobody in recent memory has seen a storm of this magnitude that has hit," DeSantis said, as reported by CNN.

While the worst of the storm will likely be felt in Florida and Georgia, the storm's path, which could increase in size, is expected to travel through portions of Alabama, Tennessee, Kentucky, Missouri, and Illinois, with the non-Florida states getting hit on Friday and Saturday.

Stocks to Watch: Among the sectors that could be hit by the hurricane is the airline industry, with over 1,000 flights canceled Thursday at several Florida airports.

Southwest Airlines (LUV  ) was listed as the airline with the most impact on the region by CNN, with the potential for its flights to resume Friday morning. The company has waived change fees for flights to other regions and airports to help travelers.

Florida is a key region for many theme parks, including Disney World, the popular theme park from The Walt Disney Company (DIS  ). Disney World has announced some park experiences have been closed due to the hurricane, but the theme park remains open. Disney World has closed for several hurricanes over the years, as reported by Tallahassee Democrat. Hurricane Ian in September 2022 was the last time Disney World fully closed.

United Parks & Resorts (PRKS  ) closed Busch Gardens Tampa Bay and several water parks it owns in the region, while SeaWorld Orlando remains open Thursday.

Insurance stocks will likely be on watch, with the damage from the storm causing potential billions of dollars in damage. Stocks like Berkshire Hathaway Inc (BRK.A  ), Allstate Corporation (ALL  ) and Travelers Companies (TRV  ) could see heavy claims from customers after the storm.

Duke Energy (DUK  ) is a larger operator in Florida and could see interest from investors as the storm damage and power outages are assessed.

While the stocks above could be negatively affected by the hurricane, several stocks could be viewed as winners from storm damage and prolonged power outages.

Generac Holdings (GNRC  ) is often viewed as a hurricane stock thanks to its sale of generators and power equipment. Generac shares are up 7% in the last five days, in possible anticipation of the impact of Hurricane Helene.

Home improvement retailers Home Depot (HD  ) and Lowe's Companies (LOW  ) could see a positive impact from repairs needed to homes in the region and see their quarterly results reflect the increased sales, depending on the storm's size.

Sports Impact: The early impact of the storm was witnessed in the sports world Wednesday, with Major League Baseball cancelling the Atlanta Braves and New York Mets contests set for Wednesday and Thursday. The games will now be played in a doubleheader Monday, extending the MLB regular season.

The games are pivotal in the current fight for the National League Wild Card race to secure a postseason berth. The Mets (87-70) currently lead the Braves (86-71) in the Wild Card race. It's possible that Monday's games could decide which team makes it into the MLB Playoffs. For the Mets, the team could see a tough travel schedule if they do make the playoffs, flying into Atlanta on Monday and then flying to Milwaukee or the West Coast for a first-round matchup that would start on Tuesday.

Several NCAA Football games could be impacted by the hurricane over the weekend. The Miami Hurricanes' home game on Friday could be postponed. UCF's home game on Saturday will also be monitored. The highly anticipated Alabama and Georgia game set to play in Tuscaloosa, Alabama, on Saturday could also be impacted by heavy rain and winds.

The National Football League is also monitoring the storm and its impact on games scheduled for Sunday and Monday. The Tampa Bay Buccaneers, Atlanta Falcons, and Carolina Panthers are currently set to host home games at 1 p.m. ET Sunday. The Miami Dolphins host a Monday Night Football game that is also being monitored.