Sports betting industry spending on US midterm elections surpasses $72 million

• DraftKings contributed over $34 million and FanDuel over $27 million this election cycle, with funds directed through Win for America super PAC to affiliated Democratic and Republican state-level PACs
• In Georgia, Win for America spent more than $12 million across 34 legislative races as the state weighs gambling legalization bills, with all but two industry-backed candidates winning their primaries
• The spending represents unprecedented political investment for the sports betting industry, which has expanded to 39 states since a 2018 Supreme Court decision legalized sports betting nationwide

Summary: Sports Betting Industry Spending on US Midterm Elections Surpasses $72 Million

The U.S. online sports betting industry has invested at least $72 million in midterm elections, making it the third-largest corporate donor behind crypto and technology sectors, according to Public Citizen. Major operators DraftKings ($34 million), FanDuel ($27 million), Fanatics ($5.5 million), and UK-based bet365 ($5.5 million) are channeling funds primarily through Win for America, a super PAC launched late last year.

Key Investment Strategy:

Win for America distributes money through two affiliate PACs—American Conservative Fund (Republican-focused) and American Future (Democrat-focused)—targeting state legislative races. The PAC's impact is significant: in Georgia, where gambling legalization is under consideration, the industry invested over $12 million across 34 legislative races, with all but two supported candidates winning their primaries.

Market Context:

This unprecedented spending comes as the industry faces competitive threats from prediction markets like Kalshi and Polymarket, which have gained favor under the Trump administration. Sports betting companies are also actively fighting unfavorable legislation, including spending heavily in Pennsylvania to oppose proposed tax increases on online sports betting operations.

Industry Growth:

Since a 2018 Supreme Court decision struck down federal restrictions, 39 states plus Washington D.C. have legalized some form of sports betting, with 33 allowing online wagering. Federal lobbying has intensified accordingly—FanDuel's 2023 federal lobbying spending ($1.1 million) was seven times its 2024 level, while DraftKings doubled its annual lobbying budget to approximately $900,000.

Note: Federal records don't capture all state-level spending or "dark money" contributions, suggesting total political expenditures exceed reported figures.