Betting operators and prediction markets spent record amounts on campaign donations and lobbying

Betting operators and prediction markets have ramped up their spending on campaign donations and lobbying in Washington this year, aiming to recapture millions of bettors and gambling dollars that prediction markets have drawn away. FanDuel and DraftKings, the top sportsbook operators, have donated over $80 million to state senate and congressional races through Win for America, a PAC established in November 2025.

The American Gaming Association, the casino industry's primary lobbying group, has spent a record $2.06 million through September, marking the highest since 2013 when online gambling was reinstated. Prediction markets and their executives have also contributed significantly to local elections and lobbying efforts, primarily targeting politicians who oversee their regulatory body, the Commodity Futures Trading Commission.

Kalshi executives, including Tarek Mansour and Luana Lopes Lara, have given more than $1.6 million to campaigns and PACs supporting both parties and spent nearly $1.79 million on lobbying thus far in the year. Polymarket has spent $270,000 on lobbying and donated $1 million to a Democratic nonprofit. A new PAC, Coalition for Prediction Markets, backed by Kalshi and other prediction market operators, has added another $200,000 to the cause.

The companies argue that their political contributions reflect their belief that regulating prediction markets is not a partisan issue and support the responsible development of federally regulated markets. However, sports betting companies are also donating to state races to fight tax hikes and expand "iGaming" products, while lobbying against federal regulation acts like the SAFE Bet Act.

The casino industry's spending aims to restrict prediction markets' operations, which they claim are illegally competing with their businesses.