Online betting companies spend millions on state legislative races ahead of midterms
Online gambling companies and prediction market operators are spending millions on state legislative races in Tuesday's midterms as they seek to shape favorable regulatory environments. The spending reflects the industry's growing political engagement at the state level, where licensing and market access decisions are made. The article does not name specific companies, dollar figures beyond the aggregate reference to millions, or individual races.
State legislatures control betting licenses and event-contract approvals, so heavy spending signals operators are treating state-level political influence as a core competitive strategy alongside product and pricing.
Kalshi, Polymarket, DraftKings, FanDuel, and Fanatics are now fighting state-level pushback across at least four fronts — Utah criminal charges, Maryland election wagering bans, Missouri enforcement suits, and Ohio plus Tennessee preemption losses — while simultaneously spending millions to elect friendlier state legislators.