Byron Donalds, the Republican candidate for governor, has garnered significant financial backing from various sectors within the gambling industry, including prediction markets, gaming operators, and the Seminole Tribe.
In anticipation of the 2026 midterm elections, over $12 million has been funneled into Florida's political landscape by gambling companies and tribal gaming stakeholders, as sportsbook operators and prediction market firms focus on a state where the Seminole Tribe holds considerable influence.
The Seminole Tribe, which owns Hard Rock International and possesses exclusive rights to online sports betting in Florida, has been the primary source of these funds, contributing approximately $9 million. This includes a substantial $4 million donation to Byron Donalds, as reported in the state’s financial records.
According to the gaming compact established in 2021, any sports bets made by customers in Florida are considered to occur on tribal land when processed through servers located there. This arrangement grants the tribe exclusive authority over legal mobile sports betting in Florida via Hard Rock Bet.
Despite being excluded from Florida's traditional online sports betting market, several gaming companies, including FanDuel, DraftKings, Caesars, PrizePicks, and Underdog, have made notable contributions. Prediction market operators like Kalshi and Robinhood have also donated six-figure sums.
Much of the financial support is directed towards Donalds, who is seen as the frontrunner for the governorship, having received over $6 million from gambling-related interests.
FanDuel has contributed $581,000 up to July, primarily to Donalds’ political committee. DraftKings’ parent company, DK Crown Holdings, has added another $525,000, mostly in support of Donalds. Caesars Entertainment has also contributed $245,000.
The Sports Betting Alliance, representing major players like DraftKings, FanDuel, and BetMGM, has donated $250,000 entirely to Donalds.
In the realm of fantasy sports, companies like PrizePicks and Underdog have also been active, with Sideprize (PrizePicks' parent company) contributing nearly $400,000 and Underdog Sports donating over $280,000. Both companies operate in Florida, offering fantasy sports and prediction markets.
Kalshi, a leader in prediction markets, has made a $75,000 contribution to Donalds, totaling $268,000 across various donations. Online brokerage Robinhood, which also operates in prediction markets, has donated $200,000, fully directed to Donalds.
Additionally, Jeff Yass, co-founder of Susquehanna International Group and an investor in Kalshi, has directly contributed $7.5 million to Donalds, along with another $3.5 million to a political committee that later supported him. Susquehanna has interests in the prediction market sector, co-owning Rothera, a designated contract market, with Robinhood.
Other tribal gaming interests have also been active, with the Poarch Creek Indians contributing $555,000, including $100,000 to Donalds.
The emergence of prediction markets has complicated Florida's gambling landscape. While Hard Rock Bet remains the only licensed online sportsbook in the state, several major gaming contributors have ventured into prediction markets. Companies like DraftKings, Underdog, and Robinhood have launched their platforms, while FanDuel and PrizePicks utilize third-party exchanges.
These prediction markets, which operate without a Florida gaming license, are offering sports event contracts, leading to legal disputes in various states over whether such contracts constitute gambling under state law. However, prediction market operators argue they are regulated federally under the Commodity Exchange Act.
Florida has yet to challenge this sector, making the stance of its next governor particularly crucial.