Why sportsbooks are pouring $80 million into the midterms
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Four of America's biggest sportsbooks have poured more than $80 million into a political operation seeking to influence state elections ahead of the midterms, according to Federal Election Commission data reviewed by Axios.
Why it matters: Sportsbooks are ramping up their political spending as they seek broader legalization and navigate a growing rivalry with prediction markets.
By the numbers: DraftKings, FanDuel, Fanatics and British-owned bet365 contributed a net $80.65 million to the Win for America super PAC from November 2025 through September 2026, according to its FEC filings.
- The federally registered super PAC channels money to Republican- and Democratic-aligned committees that seek to influence state races.
- Win for America is targeting state legislative races to expand legal sports betting and influence state laws governing the industry, including taxes and restrictions on wagering.
- Win for America contributed $56.5 million to the Republican-aligned American Conservative Fund, while $20.15 million went to Democratic-aligned American Future, per the FEC filings.
Sportsbooks bet on the midterm elections
The sports betting industry's political spending underscores how much is at stake in statehouses across the country.
- In addition to deciding whether to legalize online sportsbooks, state lawmakers also set tax rates that determine how much betting revenue flows to public budgets versus how much operators keep.
- The push comes amid growing competition from prediction markets like Kalshi and Polymarket, whose sports-related contracts have triggered legal battles over state gambling laws.
Why sportsbooks are looking at state races
Zoom out: States have controlled sports betting legalization since the Supreme Court struck down a federal law restricting state authorization of sports gambling in 2018.
- Sports betting is legal in 39 states, as well as Washington, D.C. and Puerto Rico, with more than 30 states allowing online betting.
Zoom in: The industry's money is flowing into states where sports betting remains illegal or tax policies threaten operators' profits.
- Georgia: American Conservative Fund sent $9.92 million to American Conservative Fund Action Georgia. Sports betting remains illegal in the state.
- Texas: American Conservative Fund contributed $3.5 million to Texas Conservative Fund. Sports betting is illegal in Texas.
- Pennsylvania: Though sports betting is already legal, industry-backed PACs have spent millions supporting lawmakers who opposed efforts to raise taxes on sportsbooks.
The big picture: Sports betting has generated billions in tax revenue for states, making the industry an increasingly important source of government funding.
- States have used sports betting tax revenue to fund public programs, including education and gambling addiction treatment.
What to watch: The industry is also lobbying against the SAFE Bet Act, which seeks to create national standards for regulating sports gambling and address rising public health concerns.
