Major players in the online sports betting sector, such as DraftKings, FanDuel, Fanatics, and the UK-based bet365, have collectively contributed over $72 million during the ongoing two-year election cycle. This financial push aims to enhance their influence in both state and federal policymaking as the U.S. midterm elections approach.
According to Reuters, DraftKings stands out with contributions of at least $34 million to the Win for America political action committee (PAC), while FanDuel follows with a minimum of $27 million. Both Bet365 and Fanatics have each donated $5.5 million. Bet365, founded by British billionaire Denise Coates, has funneled its donations through its U.S. subsidiary, Hillside (Shared Services US) LLC.
Election records reveal that DraftKings has also allocated over $1 million to other political committees, with FanDuel adding another $2 million to its contributions.
This surge in spending comes amid growing competition from prediction market platforms like Kalshi and Polymarket, which have garnered favor from the Trump administration. Some within the sports betting community perceive these platforms as a direct threat to their market share.
Public Citizen has reported that the online sports betting industry has emerged as the third-largest corporate donor in the midterm elections, trailing only the cryptocurrency and technology sectors. The industry is backing candidates it believes will be amenable to its policy goals.
Most of the reported expenditures have been funneled through Win for America, a super PAC established late last year. This entity channels funds through two affiliated PACs that target state-level races: American Future, which supports Democratic candidates, and the American Conservative Fund, which backs Republicans.
Super PACs can accept unlimited contributions from both individuals and corporations, allowing them to spend freely in support of candidates. However, they are not allowed to coordinate directly with political campaigns or make direct contributions. Public Citizen has noted that the spending levels via Win for America are unprecedented within the sports betting sector.
Rick Claypool, a research director at the nonprofit group, remarked, “Win for America is gearing up to be another corporate money powerhouse,” likening it to the artificial intelligence and cryptocurrency sectors, both of which have already spent over $100 million in the midterms.
The political spending has been particularly pronounced in Georgia, where lawmakers are deliberating on proposals to legalize gambling. State campaign finance records indicate that Win for America has invested over $12 million through American Future and the American Conservative Fund in Georgia's legislative races.
Federal election records show that the industry contributed $43 million to Win for America in the first quarter, followed by an additional $29 million in the second quarter. These amounts do not account for all political spending by these companies, as federal records do not capture every contribution to state races or allocations to dark money groups, which are nonprofit organizations not required to disclose their donors.
DraftKings, FanDuel, Fanatics, and BetMGM previously established the Sports Betting Alliance in 2021, a trade association aimed at lobbying Congress and state legislatures regarding policies that affect the legality of online gaming across the U.S. Notably, BetMGM has not contributed to Win for America.
The political engagement of the industry has expanded alongside the legalization of sports wagering, particularly following a 2018 U.S. Supreme Court ruling that overturned a federal law prohibiting most states from allowing sports betting. Since that ruling, 39 states and the District of Columbia have legalized some form of sports betting, according to the American Gaming Association, with online sports wagering permitted in 33 states.