With November’s midterm elections in the USA fast approaching, the country’s leading gambling operators appear to be ramping up their lobbying efforts. DraftKings, FanDuel, Fanatics, and other companies have pooled significant resources. They will likely use these funds to support the election of politicians across the political spectrum who will support their activities.
Gambling Companies Spent Record Amounts
According to a recent Reuters report, gambling companies have so far spent at least $72 million on the midterm elections. High-profile gambling operators have pooled their resources in support of Win for America, a super political action committee (PAC). These organizations can accept and spend unlimited donations in support of specific candidates, often ones sympathetic to a certain cause.
Win for America operates across the political spectrum. Two connected PACs, American Future and the American Conservative Fund, target democratic and republican candidates across the country. While PACs cannot directly finance political campaigns or conspire with politicians, they can nevertheless exert significant pressure.
Elected officials are not obligated to support particular legislation, though betting companies appear to believe that the millions in lobbying spending are worth it. Gambling is reportedly among the industries spending the most on the upcoming election, behind crypto and technology, as many operators have increased their lobbying expenses by more than twofold.
Lobbying Efforts Are Showing Some Results
Records show that gambling lobbying delivers results. In Georgia, Win for America reportedly spent $12 million to support 34 pro-gambling candidates ahead of the primaries. 32 of them won. These results could reshape the state’s gambling ecosystem as lawmakers are considering new legislation to legalize wagering. Gambling companies would be more than happy to have a fresh, untapped market for expansion.
A large portion of the gambling sector’s lobbying efforts will likely center on the USA’s burgeoning prediction market industry. Companies like Kalshi and Polymarket now offer contracts that expand into sorts, placing them in direct competition with traditional sportsbooks. They now face rising scrutiny from state authorities, making the upcoming elections especially important.
While FanDuel, Fanatics, and DraftKings have also expanded into prediction markets, this move is more of an effort to hedge their bets than to refocus their primary business. These companies are all part of the Sports Betting Alliance, an organization that aims to expand state-regulated sports betting but has remained neutral regarding prediction markets.