Key facts
- Online sports betting companies have spent at least $72 million on U.S. midterm elections.
- This spending makes the industry the third-largest corporate donor in the midterms.
- Funds are directed through the super PAC 'Win for America' to support specific candidates.
- The industry's spending aims to influence legislation on sports betting legalization and taxation.
- Many candidates supported by the industry have won their races in key states like Georgia.
Online sports betting companies, including DraftKings and FanDuel, have significantly increased their spending on the U.S. midterm elections, contributing at least $72 million to date. This makes the industry the third-largest corporate donor in the current election cycle, behind only the crypto and technology sectors, according to watchdog group Public Citizen. The funds are primarily channeled through a super political action committee (PAC) called 'Win for America,' which then directs money to affiliate PACs targeting both Democratic and Republican state races. This strategy aims to elect candidates who are expected to be sympathetic to the industry's legislative interests, such as legalization and favorable tax policies. The spending has already shown an impact in states like Georgia, where many candidates supported by the industry won their races ahead of key legislative votes on gambling. Similar efforts are underway in Pennsylvania to influence debates on taxing online sports betting. The industry's increased political engagement follows a landmark 2018 Supreme Court decision that allowed states to legalize sports betting, leading to its widespread adoption across the U.S. and a corresponding rise in lobbying efforts.